Strategic analysis of lithium resources by addressing challenges and opportunities for sustainable electric vehicle battery development in the era of global EV domination

Abstract

The increase in the interest in electrical vehicles (EV) makes us to focus on the available resources of source materials for battery development and to improve the battery performance to achieve the complete EV domination over the others. Recent observations clearly tell us that EV and hybrid EVs are going to change the world market. As the demand is going to be high for the batteries, it is important to understand the number of reserves, production and supply of the source materials which can be used in batteries. Based on the data we must find alternatives, if there is a shortage of source material. This article briefly discusses the lithium reserves and production by the world. We also discussed the increasing demand on EV and the extraction of useful materials from the used battery for the sustainable environment and to follow the circular economy aspects.