Lithium-ion batteries are an essential part of our everyday lives: they power our phones, laptops, tablets, and electric vehicles (EVs). Demand for lithium in the form of lithium carbonate and lithium hydroxide – key ingredients in these batteries – are rising rapidly: up almost 20% in 2019. Prices doubled between 2016 and 2018 in anticipation of increased demand brought on by the EV revolution.

However, the consistent increase in demand is militated against by the ongoing outbreak of coronavirus, the looming economic downturn, and the collapse of oil prices, making the future of EV sales uncertain.  

Manufacturers are Struggling to Supply Electric Vehicles with Batteries | Devamı>>>

Oil demand is set to fall this quarter for the first time since the financial crisis in 2009 due to the coronavirus outbreak in China, the International Energy Agency (IEA) said on Thursday.

“The consequences of Covid-19 for global oil demand will be significant,” the Paris-based IEA said in a monthly report, using the new scientific name for the virus.

Demand in the first quarter of 2020 is expected to fall by 435,000 barrels per day (bpd) compared with a year earlier, it said, noted it would be “the first quarterly decrease in more than a decade”.

Oil Demand Set for First Fall in a Decade as Virus Takes Toll: IEA | Devamı>>>