BofA: Global EV batteries will be "sold out" by 2025
Jul.21,2021
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According to a new research report from Bank of America's global research department, the global electric vehicle industry faces an imminent threat that its battery supply could run out as early as 2025.

The report predicts that the global supply of electric vehicle batteries could be "sold out" between 2025-26. The global electric vehicle battery operating rate will reach 85 percent.
As electric vehicle penetration continues to rise in all markets, the global battery shortage will intensify between 2026 and 2030.

The report added: "Based on the published capacity to date, we expect global EV battery run rates to rise to around 121% by 2030, implying another massive CapEx cycle likely in the next 2-3 years."

In an optimistic scenario, Bank of America predicts that EV penetration in the U.S. market will rise to around 25% and 50% by 2025 and 2030, respectively, compared to base forecasts of 7% and 20%.

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