- An estimated 30 million electric vehicles expected to be on the road by 2030
- Shortage of lithium for batteries poses an imminent risk
- Lithium Chile’s 617 square miles of claims could help plug the gap
A recent report on the electric vehicle (EV) market should bring good cheer to investors of Lithium Chile Inc. (TSX.V: LITH) (OTCQB: LTMCF). “Our latest forecast shows sales of electric vehicles (EVs) increasing from a record 1.1 million worldwide in 2017, to 11 million in 2025 and then surging to 30 million in 2030 as they become cheaper to make than internal combustion engine (ICE) cars”, wrote analysts at Bloomberg New Energy Finance (BNEF) (http://nnw.fm/xZ2hM). Millions of EVs will require millions of lithium batteries and lots of lithium – there’s about 63 kg of lithium in a 70 kWh Tesla Model S battery pack. The expected supply from Lithium Chile should come in handy. The junior explorer has the largest land package, acquired at very low cost, of any private lithium miner, with some of the highest sample grades recorded in the world’s most lithium-rich region.
As automakers ramp up production of EVs, supply shortages loom on the horizon. One large Tesla supplier expects…
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