As electric cars become increasingly popular, the race to produce lithium is heating up.CNBC’s Phil LeBeau reported there is a 15% annual growth in lithium worldwide.”One of the key drivers is the fact that lithium is essential to the batteries in electric vehicles,” LeBeau said. A battery with lithium-ion is rechargeable.Goldman Sachs analysts said they see lithium-ion batteries as the mainstream technology over the next five years — and China is one market that is “charged up and ready to grow.”The analyst team with GS said in a June 8 research note that energy storage demand is surging in China as renewable use grows, energy efficiency requirements evolve and electric vehicles sales ramp up.
Source: As Lithium Demand Grows, China ‘Charged Up and Ready to Grow’