Research agency Fitch Solutions Macro Research has created a new set of assumptions on electric vehicle (EV) sales to determine future EV battery metals demand in the US, China and Europe over the coming years.
Using its existing EV forecasts, the research agency divided geographic demand for battery metals into direct demand, which refers to demand from any country where battery manufacturing takes place domestically, and indirect demand, which refers to demand from a country where EV sales may stoke demand for batteries containing key metals that are produced elsewhere.