Electric vehicles (EV) are growing fast, challenging the conventional petrol vehicle industry.

Within the EV sector, lithium is one of the most indispensable metals, said Chris Berry, president of House Mountain Partners.

Speaking to David Lin, anchor for Kitco News, Berry said that “the reasons why [lithium] is growing so fast and that investors are latching onto it is because it’s probably the one battery metal, the only battery metal, that is really not substitutable.”

Demand for lithium is expected to grow at a compound annual rate of 20% from now until 2030, Berry said.

But will it be as important as oil in the coming decades?

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