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Annual global electric vehicle sales are forecast to hit 24.4 million by 2030

By 2030, enough lithium to feed the equivalent of 35 plants the size of the Tesla Gigafactory now being built in Nevada will be required. The total investment in new mines, including some for other elements used in lithium ion batteries, will likely range from $350 billion to $750 billion, according to analysts at researcher Sanford C. Bernstein & Co.

High Lithium Prices Are Not a Deal Breaker

Even if the price of lithium soars 300 percent, battery pack costs would rise only by about 2 percent.

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