Electrification
The Road to EV Adoption: Fast Lanes and Potholes
The following content is sponsored by Rock Tech Lithium.
The Road to EV Adoption: Fast Lanes and Potholes
Electric vehicles (EVs) are a key piece of the clean energy puzzle.
However, the road to electrification is influenced by various factors. While some are helping speed up the switch to EVs, others are slowing it down.
The above infographic from Rock Tech Lithium outlines the fast lanes accelerating mainstream EV adoption, and the potholes slowing it down.
The Fast Lanes Accelerating EV Adoption
From government policies to falling battery prices, a number of factors are putting EVs in the fast lane to consumer adoption.
Factor #1:
Promoting Policies
The shift to a clean energy future is slowly moving from a goal to a reality.
Governments around the world have made automobile electrification a key part of public policy. More than 20 countries are targeting a complete phase-out of vehicles that emit greenhouse gases over the next two decades. Furthermore, 35 countries have pledged for net-zero economies by 2050, where EVs will play a key role.
As an example, here’s a recent tweet that U.S. President Joe Biden wrote before signing an executive order to make 50% of the U.S. auto fleet electric by 2030:
“The future of the auto industry is electric—and made in America.”
—President Biden on Twitter
Given the increasing importance of EVs, it’s no surprise that governments are not only promoting auto electrification but also incentivizing it.
Factor #2:
Consumer Awareness
The rapid growth of the EV market is partly due to consumers that are choosing to go electric.
Rising awareness around the risks of climate change as well as vehicle improvements from EV manufacturers is spurring EV adoption among consumers. Between 2015 and 2020, consumer spending on EVs increased by 561%, up from $18 billion to $119 billion.
As more consumers switch to EVs, the market will continue to grow.
Factor #3:
More Models
EV manufacturers are recognizing the need for a wider variety of vehicles to meet the needs of different consumers.
The number of available EV models has increased from 86 in 2015 to over 360 in 2020, and thanks to recent announcements from the auto industry, this trend is likely to extend over the next decade.
Company | # of New EV Models Announced | Year |
---|---|---|
Volkswagen | 75 | 2025 |
Ford | 40 | 2022 |
GM | 30 | 2025 |
Hyundai-Kia1 | 29 | 2025 |
BMW | 25 | 2023 |
Renault-Nissan2 | 20 | 2022 |
Toyota | 15 | 2025 |
Total | 234 | N/A |
1Hyundai is the parent company of Kia Motors.
2Refers to the Renault-Nissan-Mitsubishi Alliance.
Source: IEA
With more models available, consumers have a wider variety of cars to choose from, reducing the barriers to EV adoption.
Factor #4:
Falling Battery Prices
Batteries are the most expensive and important components of EVs.
Improvements in battery technology, in addition to expanding production, have driven down the cost of EV batteries. As battery costs fall, so do EV prices, bringing EVs closer to price-parity with gas-powered cars.
Year | Battery Pack Price ($/kWh) | % Price Drop Since 2010 |
---|---|---|
2010 | $1,191 | 0% |
2011 | $924 | 22% |
2012 | $726 | 39% |
2013 | $668 | 44% |
2014 | $592 | 50% |
2015 | $384 | 68% |
2016 | $295 | 75% |
2017 | $221 | 81% |
2018 | $181 | 85% |
2019 | $157 | 87% |
2020 | $137 | 89% |
Source: BloombergNEF
According to BloombergNEF, at the battery pack price point of $100/kWh, EV prices will become competitive with gas-powered cars, providing a boost to electrification.
All of the above factors are playing a major role in accelerating the EV transition. So what’s slowing it down?
The Potholes Slowing Down EV Adoption
Although the EV market is growing exponentially, it’s still in its early days, with various obstacles to overcome on the way to mainstream penetration.
Pothole #1:
The Supply of Battery Metals
EV batteries rely on the properties of various battery metals to power EVs. In fact, a single EV contains around 207 kg of metals.
As EV adoption grows, the demand for these critical minerals is expected to reach unprecedented highs. In turn, this could result in supply shortages for metals like lithium, cobalt, and graphite, potentially slowing down the growth of the EV market.
To avoid potential shortages, EV manufacturers like Tesla and Volkswagen are vertically integrating to mine their own metals, while governments work to build domestic and independent metal supply chains.
Pothole #2:
Charging Infrastructure
With more EVs on the roads, drivers need more places to plug in and recharge.
However, most countries are lagging behind in the installation of public chargers. The global average ratio of public chargers to EV stock is less than 0.15. This means that on average, there are less than 3 chargers for every 20 EVs.
But there are signs of optimism. Global charging infrastructure has doubled since 2017, and governments are incentivizing charger installations with subsidies and tax rebates.
Pothole #3:
Charging Times
While filling up gas tanks takes less than five minutes, it can take up to eight hours to fully charge an EV battery.
Fast chargers that use direct current can fully charge EVs in a couple of hours, but they’re more expensive to install. However, the majority of publicly available chargers are slow, making it inconvenient for drivers to charge on the go.
As charging technology improves, faster chargers are being developed to boost charge times. According to Bloomberg, new ultra-fast chargers can fully charge EVs in less than 30 minutes. Furthermore, the market share of fast chargers is expected to grow from 15% today to 27% by 2030.
Pothole #4:
Range Anxiety
Compared to gas-powered vehicles, EVs do not go the distance yet.
Limited driving ranges are known to cause “range anxiety”—the fear of running out of power—among EV drivers, presenting a hurdle for mainstream EV adoption. Additionally, the lack of charging infrastructure reinforces the problem of limited ranges.
However, consistent improvements in battery technology are resulting in longer driving ranges. Between 2015 and 2020, the average range for battery EVs increased by 60%. With further technological improvements, extended ranges will allow EVs be compete more aggressively with their gas-guzzling counterparts.
The Decade of the Electric Vehicle
The EV market is growing at a remarkable rate. EV makers sold around three million vehicles in 2020, up 155% from just over one million vehicles sold in 2017.
With several factors driving EV adoption and stakeholders working to overcome the industry’s obstacles, mainstream adoption of EVs is on the horizon.
Electrification
Charted: The Energy Demand of U.S. Data Centers
Data center power needs are projected to triple by 2030.

Charted: The Energy Demand of U.S. Data Centers
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
As the digital economy accelerates and generative AI becomes more deeply embedded in business and daily life, the physical infrastructure supporting these technologies is undergoing a transformative explosion.
In this graphic, we use data from McKinsey to show current and projected energy demand from data centers in the United States. Data is from October 2023.
U.S. Data Centers Could Quadruple Power Demand by 2030
Today, data centers account for roughly 4% of total U.S. electricity consumption. But by 2030, that share is projected to rise to 12%, driven by unprecedented growth in computing power, storage needs, and AI model training.
In fact, U.S. data center energy demand is set to jump from 224 terawatt-hours in 2025 to 606 terawatt-hours in 2030.
Year | Consumption (TWh) | % of Total Power Demand |
---|---|---|
2023 | 147 | 4% |
2024 | 178 | 4% |
2025 | 224 | 5% |
2026 | 292 | 7% |
2027 | 371 | 8% |
2028 | 450 | 9% |
2029 | 513 | 10% |
2030 | 606 | 12% |
Meeting this projected demand could require $500 billion in new data center infrastructure, along with a vast expansion of electricity generation, grid capacity, and water-cooling systems. Generative AI alone could require 50–60 GW of additional infrastructure.
This massive investment would also depend on upgrades in permitting, land use, and supply chain logistics. For example, the lead time to power new data centers in large markets such as Northern Virginia can exceed three years. In some cases, lead times for electrical equipment are two years or more.
A Strain on the U.S. Grid
The U.S. has experienced relatively flat power demand since 2007. Models suggest that this stability could be disrupted in the coming years. Data center growth alone could account for 30–40% of all net-new electricity demand through 2030.
Unlike typical power loads, data center demand is constant, dense, and growing exponentially. Facilities often operate 24/7, with little downtime and minimal flexibility to reduce usage.
Learn More on the Voronoi App 
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Electrification
Visualizing China’s Battery Recycling Dominance
In 2025, China will hold 78% of pre-treatment and 89% of refining capacity.

Visualizing China’s Battery Recycling Dominance
Battery recycling is expected to become a cornerstone of the global energy transition as electric vehicles (EVs) and other battery-powered technologies become more widespread.
According to exclusive data from Benchmark Mineral Intelligence, China holds a dominant position in both the pre-treatment and refining stages of battery recycling.
Chinese Growing Dominance
Battery recycling involves two major stages. First is pre-treatment, where recycling begins. Scrap batteries are typically shredded and separated to produce a material known as black mass.
The next stage is refining, which processes black mass into valuable lithium-, nickel-, and cobalt-based chemicals for use in battery cathodes.
China’s scale, infrastructure, and early investments in battery supply chains have translated into an outsized advantage in recycling capacity.
As the largest producer and user of lithium ion batteries, the country is expected to process 3.6 million tonnes of scrap batteries in 2025, up from 1.2 million tonnes in 2022. This would account for 78% of global pre-treatment capacity, with total global capacity projected to exceed 4.6 million tonnes.
Region/Tonnes | 2022 | 2023 | 2024 | 2025P |
---|---|---|---|---|
Global | 1.5M | 2.4M | 2.8M | 4.6M |
China | 1.2M | 1.8M | 2.1M | 3.6M |
Asia excl. China | 158K | 231K | 288K | 361K |
Europe | 118K | 133K | 243K | 416K |
North America | 59K | 165K | 129K | 196K |
ROW | 4K | 6K | 6K | 40K |
In second place is the rest of Asia, with 361,000 tonnes, followed by Europe with 416,000 tonnes. While the U.S. attempts to reduce its reliance on China in the mineral sector, North America accounts for just 196,000 tonnes.
The refining stage is even more concentrated.
China’s black mass refining capacity is projected to nearly triple, from 895,000 tonnes in 2022 to 2.5 million tonnes by 2025—representing 89% of global capacity.
Region/Tonnes | 2022 | 2023 | 2024 | 2025P |
---|---|---|---|---|
Global | 960K | 1.4M | 1.7M | 2.8M |
China | 895K | 1.3M | 1.5M | 2.5M |
Asia excl. China | 48K | 101K | 146K | 225K |
Europe | 13K | 23K | 25K | 28K |
North America | 4K | 5K | 5K | 21K |
ROW | 0 | 1K | 1K | 32K |
Refining is critical, as it converts recycled material into high-purity, battery-grade chemicals. The rest of Asia is expected to refine 225,000 tonnes, Europe 28,000 tonnes, and North America only 21,000 tonnes. Between 2022 and 2025, China’s refining capacity is projected to grow by 179%, while North America’s is expected to surge by 425%—albeit from a much smaller base.
As global demand for EVs and battery storage rises, countries looking to build domestic recycling infrastructure must accelerate investment to reduce dependence on Chinese supply chains.
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