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World requires 12x current battery capacity by 2035!

The world is in a chip-making crisis. But reasonably soon, the shortage will be over, and a very different, equally gargantuan opportunity will come into focus: We are going to need batteries — massive numbers of batteries. According to a forecast last week by BloombergNEF, a clean energy research firm, the world is going to require about 12 times the current lithium-ion battery capacity by 2035, or 4.8 terawatt-hours. These batteries will be parlayed into mega-fortunes and economies as the accumulated EV market through 2040 adds up to $24 trillion in sales, BNEF says, creating immense geopolitical power for one and possibly more fortunate countries where the batteries are made.

Source: BloombergNEF