Might be. Other sources claim it to be otherwise.
"As of January 2010, the USGS estimated world total lithium reserves at 9.9×109 kg (economically extractable now) and identified lithium resources at 2.55 × 1010 kg (potentially economic). Most of the identified resources are in Bolivia and Chile (9 × 109 kg and 7.5 × 109 kg, respectively). World lithium production is currently on the order of 2 × 107 kg per year.
If we would like to have a North American standard of living for everyone in the world – say, 1 car for every 2 people – then we would need about 3.4 billion Nissan Leafs. This would use 32% of the identified resources (all known lithium in the world), or 82% of the reserves (all lithium that is currently economic to produce). Even with widespread recycling, that seems like an unsustainable prospect.
Remember that the limits on battery capacity are fundamental. The only ways this percentage can go down are:
Battery capacity exceeds 73% of the theoretical maximum (unlikely)
New deposits of lithium are discovered and made economic (unknowable)
Smaller lithium-ion batteries are used (shorter range)
Fewer cars are built with lithium-ion batteries."
http://large.stanford.edu/courses/2010/ph240/eason2/