Lithium battery production set to grow 50 percent a year

One of the biggest upcoming challenges for electric cars is having an adequate supply of lithium batteries.

A new report by Benchmark Minerals, first cited by CleanTechnica, shows battery makers are working quickly to meet growing demand for new lithium-ion battery cells from automakers.

According to the company’s Battery Factory Data, battery suppliers ramped up their forecast supply from 922 gigawatt-hours in 2023 to 965 in February, an increase of 4 percent in February alone. Extrapolated to an annualized forecast, that would increase battery supplies available in that year by 50 percent this year alone.

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