There is enough lithium to make EV batteries alongside current uses such as laptops and mobiles for the foreseeable future. Lithium can also be recycled from existing batteries to help maintain supply.
New battery technologies are also in development. The alternatives to lithium-ion EV batteries include nickel-metal hydride (NiMH) batteries, lead-acid batteries, and sodium-ion batteries. NiMH batteries are more efficient than lead-acid batteries, but they are also more expensive. Sodium-ion batteries are a newer technology and are not yet widely used in EVs, but they offer a longer life cycle than lithium-ion batteries. Other potential alternatives include zinc-air, zinc-halide, and aluminium-air batteries.
Several companies are innovating new battery technologies, including Tesla, Panasonic, Samsung, and LG. Tesla is focusing on creating a new type of lithium-ion battery that is more energy-dense and longer-lasting. Panasonic is working on a new type of solid-state battery that is lighter and cheaper than traditional lithium-ion batteries. Samsung and LG are both researching new types of lithium-ion batteries with improved safety and performance.
The take-away is that EV batteries are improving and will be powering transport way into the future, perhaps even leaving lithium in the rearview mirror. New battery chemistries will no doubt mean more power, less need for rare metals and greater energy density.