Could biographite trigger new supply chains in EU and US?

Graphite is one of the most important minerals used in electric vehicle (EV) battery production. Indeed, a lithium-ion battery may contain 15 times as much graphite as it does lithium. As electrification ramps up, demand for the mineral from 140 kt in 2020 to more than 3,500 kt in 2040—growth of approximately 2,500%, according to data from the International Energy Agency. Market intelligence firm Project Blue also predicted in June 2023 that battery manufacturers will face a 777,000-tonne shortage of the mineral per year by 2030.