Is lithium the new petroleum?
18 February 2021

Lithium is one of the elements in the periodic table

Lepidolite, a mineral containing lithium
Lithium batteries and electric cars
Conquest of the front pages by lithium is strictly connected with the vital new role of electric cars. According to the figures for 2021, published by the International Energy Agency (IEA), it is estimate there are now around 16 million electric cars on the road worldwide, consuming roughly 30 terawatt-hours (TWh) of electricity per year, the equivalent of all the electricity generated in Ireland: while impressive, the share of electric vehicles in total car sales is still only one-tenth that of conventional SUV sales. Electric cars helped avoid oil consumption and CO2 emissions in 2021, although these benefits were cancelled out by the parallel increase in the sales of SUVs.
Although electric cars are, by and large, still a rarity, the expectation is that over the next few years there will be a boom in sales and, according to the most optimistic forecasters, in 2030, there may even be as many as about 220 million of these vehicles. In terms of numbers, in 2021, the country which sold the most electric cars is China (3.4 million). The United States made an impressive return to the electric car market in 2021 as sales more than doubled to surpass half a million. In Europe, electric car sales increased by nearly 70% in 2021 to 2.3 million, about half of which were plug-in hybrids. Overall, electric cars accounted for 17% of total European sales in 2021, but there were significant differences across markets. The most virtuous countries are in Northern Europe: in first place is Norway, where 72% of cars purchased are electric or hybrid, followed by Sweden (45%) and Netherlands (30%). What are the reasons for this increase? The policies supporting this innovation and the drop in the cost of lithium batteries, the demand for which, according to the experts, may triple by 2025.
Where is it found
About half of all the planet’s reserves of lithium are found in an area at the intersection of Chile, Argentina and Bolivia, known as the “lithium triangle”. The largest producer of this metal is Chile, where around 76 thousand tons are extracted each year; Australia comes second (with over 74 thousand tons a year) and Argentina comes third (with around 30 thousand tons). In the Old Continent, the most important reserves are found in Portugal and in Eastern Europe.

“Lithium triangle”, Chile, Atacama
All that glitters is not lithium

“Lithium triangle”, Salar de Uyuni, Bolivia
