The Rise of Electric Vehicles


What started out as a concept with many opponents and skeptics, has finally reached a turning point in our way of thinking about transportation in the future. Electric vehicles, though still largely outnumbered by “conventional” cars are steadily rising in numbers thanks to overall costs coming down for consumers, and the expansion of infrastructure to support electric vehicles.

One of the problems still facing electric vehicles, and this is becoming apparent now that the first EVs are getting older, is that of the longevity of the battery. For new buyers, this is not as significant a problem as these purchasers are getting the vehicle in its peak condition. However, EVs coming on to the second-hand market are faced with limitations to range and reliability not faced by conventional second hand cars.

In addition to a lower resale value, the cost of EV’s is still higher than combustion engine vehicles or even electric hybrid vehicles. The reason for these higher costs is the batteries that are used in the vehicles. Electric hybrid vehicles do face some of the same costs, and do attract a premium because of the use of the additional technology, but all-electric vehicles still have added costs when compared.

As electric vehicles – and their batteries – get bigger and offer more range, the effects on resources will be felt significantly in the mining industry. One of the key components of the batteries is lithium, a substance found primarily in Latin America. Common in batteries found in everyday items such as smartphones, lithium is one of the primary resources used in EV batteries. To put the scale in context, each EV battery can have upwards of 9lbs of lithium used to create it.


As our desire for electric vehicles grows, so too will the demand for metals and the materials that form the basis for these components. 

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