Battery shortage may be ultimate obstacle for EVs
A lack of viable batteries could hold back electric vehicle (EV) technology, warns autos analyst George Galliers from Evercore ISI, who said present production levels were "only satisfactory to supply around 900,000 to a million units" for a global market of nearly 100 million light vehicle sales. IHS Markit expects annual EV production to hit nearly four million vehicles by 2020.

More and more electric vehicles are being brought to market, but a lack of viable batteries could hold back the technology being accepted by drivers, analysts have warned.

Lithium-ion batteries are in high demand in order to power electric vehicles, however there are concerns whether enough batteries will be produced in order to support the market for electric vehicles.

"We are seeing an acceleration in the bringing of electric vehicles to market, but the big question we have is where are the batteries going to come from for these vehicles?" George Galliers, autos analyst at Evercore ISI, told CNBC's Squawk Box Europe.

"Because if you look at global lithium-ion cell production today, it's really only satisfactory to supply around 900,000 to a million units of total production, which in a global market of almost 100 million light vehicle sales, we're talking about 1 percent essentially," he added.