Wed. Dec 6th, 2023

The battery market is experiencing a rapid growth in the supply of lithium, with the number of operating mines increasing from 22 six years ago to 60 now and an expected 200 by the end of the decade. This growth has led to concerns about market volatility due to oversupply, but some experts predict that it will result in significant fluctuations.

Mark Selby, CEO of Canada Nickel, believes that there is room for multiple battery chemistries in the market and that it is unlikely that one will emerge as the winner while others will lose out. He envisions a differentiated market with options ranging from entry-level to premium based on performance. Despite advancements in technology, Selby does not worry about nickel substitution as nickel has the highest energy density and people are always looking for ways to use more of it in batteries.

The conversation around the future of the battery market is cautiously optimistic, with recognition of potential market volatility and belief in coexistence of multiple battery chemistries. As lithium supply continues to grow, we can expect a range of options for batteries based on performance and energy density.

By Editor

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