NetworkNewsWire Editorial Coverage: Consumers are switching to electric vehicles faster than previously thought, making an expected boom in demand for battery-grade lithium ever more real. Current suppliers including Albemarle Corp. (NYSE: ALB) and Sociedad Quimica y Minera de Chile (NYSE: SQM) will reap the rewards of a major paradigm shift in the car industry. But newcomers to this market, from Nemaska Lithium (TSX: NMX) (OTC: NMKEF) and Standard Lithium (TSXV: SLL) (OTC: STLHF) (STLHF Profile) may also profit as they bring new supplies online. Major buyers of lithium including automaker Tesla Inc. (NASDAQ: TSLA) could create massive new demand for this material.
Electric vehicle (EV) sales will surge to 1.6 million units worldwide this year, from a few hundred thousand in 2014, according to Bloomberg New Energy Finance. The growing popularity of EVs has had an effect across the entire automotive industry: German automaker Audi (NSU.DE) unveiled a new electric supercar at the Pebble Beach Automotive Week this summer, and new manufacturers are expected to enter…
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