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Derived Demand - Soaring Demand for Electric Vehicle Batteries

Geoff Riley

16th August 2017

Here is a great example of derived demand. According to this chart from the Economist, demand for vehicle batteries to charge electric vehicles could overtake that from consumer electronics as early as next year.

The £30m Faraday Challenge Prize is looking for the best research projects designed to design, development & manufacture of batteries for vehicle electrification.

Demand for lithium - used in vehicle batteries - is rising and this is potentially good news for the Cornish economy.

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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