RMI reports on EV battery demand and supply chain

Electric vehicles (EVs) will represent 56% of passenger vehicles in the United States by 2030, RMI estimates. As more and more EVs hit our roads, the demand for EV batteries grows — this surge will require nearly five million tonnes of battery packs containing approximately 200,000 tonnes of lithium. 

Today’s EV battery supply chain needs to scale quickly to meet increasing demand. However, due to the developing technologies — the lack of robust public data and intrinsic link with climate change and societal development — it can be difficult for policymakers. 

Rocky Mountain Institute (RMI) released a report — Measuring Gaps in Supply and Demand for EV Battery Materials in the United States — to support decision makers direct policy and investment in the right places. 

Transforming global energy to secure net zero 

RMI is an independent non-profit organisation of experts across disciplines working to accelerate the clean energy transition. 

Founded in 1982, the company’s mission is to transform the global energy system to secure a clean, prosperous, zero-carbon future for all.

The organisation is working to accelerate the electrification of the transportation sector through focus on research, state rulemaking, and economics of utility and business-led charging rollouts.

EV battery supply and demand

The report dives into EV sales, key legislation and policy context driving new investments, the EV battery supply-demand gap (including assessment and interpretation), and conclusions with recommendations and necessities for the longevity of EV battery supply chain development. 

As IRA incentives become increasingly relevant, the report also seeks to clarify how much of the battery supply is expected to qualify for IRA incentives in the future.

The report concludes: 

• “The United States must increase investment in supply chains abroad to ensure robust supply of inputs to domestic production.
• Circularity will be a critical pathway to increasing supply chain resilience and reducing trade dependencies.
• Improvements in public data, particularly on trade, can greatly increase our understanding of trade flows that impact IRA compliance and the resiliency of the supply chain.”

"To solve a problem as complex as climate change, we need to find new ways of working collaboratively and globally between governments, corporations, communities, and NGO partners,” says Jon Creyts, RMI’s CEO. 

“The only way to successfully respond to this challenge is together.”

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