WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 43
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FIGURE 10
Lithium worldwide demand
Increasing their control on these metals production is part of the
USA and EU legislations analyzed above. In addition to legislation
and public funding, private financing is mobilised. For example,
in 2023, the French government launched the first European
Union's private critical metals fund. InfraVia was selected to
manage this €2 billion fund, which will be supported by French
government and European manufacturers in the automobile,
renewable energy and aeronautics sectors, as well as by financial
investor.179
Despite holding less than 7% of the world's lithium reserves,
China has managed to secure an 80% share of global refined
lithium production.
179 https://home.cib.natixis.com/articles/securing-critical-metal-supplies#:~:text=The%20
critical%20metals%20fund%20%E2%80%93%20a,metal%20than%20we%20do%20currently.
3,477
3,182
2,933
2,688
2,453
2,130
1,861
1,628
1,257
690
1,433
1,072
508
508
310
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WEMO 2024
Lithium is used for batteries (see above). Its demand growth
is forecasted to follow EVs growth, from around 1 070 million
tons of lithium carbonate equivalent in 2024 to 3 800 million
tons in 2035.
3,829
Source: Statista 2024
43
Lithium and critical metals:
Critical metals notably, nickel, cobalt, lithium and copper are
central to the production of EVs, batteries, wind turbines,
photovoltaic panels and electrical grids.
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