When it comes to Electric Vehicles (EVs), lithium is the undisputed king.
Given the current focus on environment and hence a race towards EV adoption, everyone is trying to work towards controlling this precious metal.
Currently, Chile and Australia control more than 3/4th of the total raw lithium supply. However, it’s processing into battery grade chemicals is almost 60% controlled by China.
As per current estimates, there would be a multi fold increase in the EVs and hence lithium demand over the short to medium term; and hence a risk of significant dependence on China.
No one obviously wants that, especially after how China squeezed the supply chain during Covid.
Everyone is trying to find new sources to mine Lithium as well as set up it’s own processing capacity into battery.
It’s difficult to foretell how the future will unfold. However, we came across a good article on what is happening in the world today and who is trying to do what.