The worldwide demand for Lithium, a key element in electric vehicle batteries, is expected to exceed supply by 2025, according to analysts. China's lithium demand for electric vehicles is projected to grow by 20.4% annually, while its supply will only grow by 6% over the same period. The World Economic Forum predicts that global demand for lithium will reach over 3 million metric tons by 2030. While some analysts believe a deficit will occur by 2025, others predict a shortfall by the end of the decade. The complexity in geology and permitting processes pose challenges to increasing lithium production.

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