Benchmark Mineral Intelligence’s Business Model

Benchmark Mineral Intelligence is a market intelligence firm that provides in depth analysis on the lithium-ion battery supply chain.

The supply chain is the biggest limiting factor for future development for electric vehicles and Benchmark Mineral Intelligence helps analyze where the biggest risks lay in both downstream and upstream production for this rapidly expanding market.

North America’s Production Vs Demand for Electric Vehicles

North America is expanding downstream production in the electric vehicle and battery market to become a key player in the global energy transition, but Benchmark Mineral Intelligence highlights the biggest risk in the supply chain is if mining of raw materials needed to build out these electric vehicles can keep up with future demand?

According to Benchmark Mineral Intelligence, North America is on a steady trajectory in terms of sustaining its own EV production as it relates to batteries from now until 2030, but the risks become more prominent in the supply chain the further out we go, as seen in the below forecast for battery cathode and anode raw material supply.

Source: Benchmark Mineral Intelligence

North America’s lithium, cobalt, and nickel production- the three most critical raw materials in lithium-ion batteries, are lagging demand from now until 2030. According to Benchmark Mineral Intelligence, all three of these materials will need to experience major expansion and investment to keep up with regional demand for electric vehicles the future.

Raw Material Supply vs Battery Demand

Source: Benchmark Mineral Intelligence

Recycling’s Role In Solving the Deficit

According to Benchmark Mineral Intelligence, scraps from gigafactories will be a key source in helping with the deficit in electric metals, but end-of-life batteries are not expected to become a major source of material until the 2030s, because the electric vehicles that make up the current market are not expected to be scrapped for another decade.

In addition, Benchmark Mineral Intelligence’s COO Andy Miller states the economics are not particularly favorable in the recycling space for electric vehicles.

If you are an automaker, this will become part of your liabilities to make sure there is somewhere for batteries to go end of life, you can’t have millions of EV batteries laying around the streets. EV companies see it as a potential liability in the future but the upstream industries realize there is huge potential to unlock new sources of supply they didn’t have in the past.Andy Miller, BMI COO

Miller also explains having backing from the government through subsidies or promoting investment in new technology to recycle EV’s will play an important role in future development.

Lithium Recycling Forecast

Source: Benchmark Mineral Intelligence

To learn more about Benchmark Mineral Intelligence please visit their website HERE

About Author

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Grizzle hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.