With car-makers and governments working to phase out conventional petrol and diesel engines, the appetite for electric vehicles will continue to grow. 

 

The tipping point – when EVs are expected to be cheaper to own and run than combustion-powered cars – is expected in 2025.

 

Demand for EVs will, in turn, increase demand for the key ingredient used in their batteries – lithium. 

 

With businesses and universities exploring how to develop large-scale battery production in the UK, the missing link in the supply chain is the lithium itself. Most lithium is mined in Australia and Latin America. 

 

But that could soon change. Cornish Lithium is hoping to mine lithium in Cornwall. 

 

The business was set up by former mining engineer and investment banker, Jeremy Wrathall. 

 

I went to meet Jeremy at an electric car charging point in central London. 

 

Behind The Balance Sheet is a business podcast, presented by Julie-Anna Needham. Each episode features an interview with a founder or leader. We hear about their business, discover what inspires them and find out what keeps them awake at night.