Toward security in sustainable battery raw material supply

From McKinsey & Company

The net-zero transition will require vast amounts of raw materials to support the development and rollout of low-carbon technologies. Battery electric vehicles (BEVs) will play a central role in the pathway to net zero; McKinsey estimates that worldwide demand for passenger cars in the BEV segment will grow sixfold from 2021 through 2030, with annual unit sales increasing to roughly 28.0 million, from 4.5 million, in that period.¹ For producers of battery cells and raw materials, ensuring a reliable and ample supply of sustainable and affordable materials will be crucial to their competitiveness, the ongoing rollout of BEVs, and the net-zero transition overall.