Lithium prices are only headed higher.
With EV demand accelerating, and hopes for a green future, lithium miners are struggling to supply the market. That’s a substantial catalyst for companies such as Lithium Americas (LAC).
General Motors, for example, wants to increase its spending on EVs to $435 billion through 2035. Ford is targeting 40% EV sales by 2030. Volkswagen is investing billions in EVs. Countries all around the world want millions of them on the roads over the next few years.
Unfortunately, none of it may happen – without a good source of lithium.
Even the International Energy Agency said existing projects can only meet half the demand for lithium by 2030, notes CNN. “The United States has only one active lithium mine today. The country will need 500,000 metric tons of lithium carbonate equivalent by 2030, according to research by RK Equity, a New York firm that advises investors on lithium,” they added.