From: nikhil.kamath
Lithium is regarded as a pivotal resource in the evolving landscape of electric vehicles (EVs). Its significance is underscored by the statement that “lithium in a way is the next Oil” [:54].
Role in the EV Transition
The global transition to EVs is actively occurring [:47], especially in sectors like scooters, where EVs can achieve 40% less emissions compared to traditional vehicles [:51]. This shift is driven by the potential for significant fuel cost savings [:01:00], and it is in this context that lithium, a core component for EV batteries, gains its crucial “next oil” status [:54]. The move towards electric transportation aims to mitigate substantial environmental impacts, considering that approximately 50% of global CO2 emissions originate from ground transportation [:37].