Automakers reach for lithium
The boom in electromobility will change the world of transportation forever.
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Large charging stations and private wallboxes are being built all over the country and the world. But in order to meet the demand for electric vehicles, raw materials are needed, especially in the batteries. Lithium is one of the most sought-after materials. Car manufacturers have already recognized that they must also provide the raw material themselves. Otherwise, they could be left high and dry in terms of lithium supplies. Recently, the largest manufacturer of electric vehicles, the Chinese BYD Group, announced that it would also push ahead with the purchase of lithium projects itself. "To secure the supply of the raw mineral for processing in an electric vehicle factory currently under construction in the country," is the rationale. "We prefer to buy any available and affordable resource, but it has to be competitive," Stella Li, global vice president of BYD told Bloomberg news agency. After all, BYD laid the groundwork for car production in Brazil on Oct. 9.
The European car companies are also making efforts to obtain the raw material. After all, they are building battery factories around the world. The latest example is Stellantis, parent company of the Fiat, Chrysler and Ram brands among others, which is building a battery factory in the US state of Indiana together with Samsung SDI. It is scheduled to open in 2027. By then, the supply of lithium must be regulated. So, the demand for lithium will increase worldwide, that's a given. As a result, the price is also likely to remain high. That in turn is good for the companies with the lithium projects. Be it that they become more economical as the price of lithium rises, or that they are bought up by carmakers like BYD. Interesting companies with lithium projects include, for example, Lithium ION Energy and Century Lithium.
In mining-friendly Mongolia, Lithium ION Energy - https://www.commodity-tv.com/ondemand/companies/profil/ion-energy-ltd/ - owns two prospective lithium projects.
In Nevada, Century Lithium's - https://www.commodity-tv.com/ondemand/companies/profil/century-lithium-corp/ - Clayton Valley Lithium Project is already delivering top-quality battery-grade lithium carbonate at a pilot plant.
Current corporate information and press releases from Century Lithium (https://www.resource-capital.ch/en/companies/century-lithium-corp/ ).
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