This article was originally published on CNBC.
The automotive industry's focus on electrification has accelerated in 2016.
Volkswagen Chairman Herbert Deiss told CNBC at the Paris Motor Show in November that "electric mobility will take off by 2020," while Tesla CEO Elon Musk announced in May his aim for annual production to be at 1 million vehicles by this same year.
The onus is now on rechargeable batteries – rather than petrol – to propel the automotive industry into its proposed greener future, with lithium ion cells being the prevailing form of this technology.
"Lithium is a pretty abundant element naturally," Jamie Speirs, a fellow in energy analysis and policy at Imperial College London, told CNBC via telephone. But, though worldwide production of the metal is increasing year on year, he detailed that "the current supply chain will not match up with lithium demand by, say, 2040"...