North American Lithium Industry Gears Up for Growth Amid EV Boom and Market Fluctuations
–News Direct–
The lithium sectors in the United States and Canada are gearing up for significant growth in 2024, despite recent challenges in pricing and demand that have affected the global market.
Experts maintain a positive long-term outlook for lithium, acknowledging potential issues amidst rapid industry changes.
Dubbed the new oil for electric vehicle (EV) production, the race to secure lithium has been intensifying. The demand for lithium-ion batteries in the US soared to a record high in early 2023, fueled by increasing interest in EVs and the transition to clean energy. According to the S&P Global Commodity report, lithium-ion battery capacity is projected to reach 6.5 TWh by 2030, with lithium playing a crucial role in the EV industry and being essential for achieving ...