WASHINGTON and NEW YORK and LONDON, April 28, 2016 /PRNewswire/ -- MarketResearch.com published a blog post detailing how electric vehicle producers such as Tesla and China's BYD are increasing the demand for lithium, a silver-white metal that has revolutionized the rechargeable battery industry.
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According to a report by The Freedonia Group, World Lithium, global demand for lithium is expected to rise 8.8% annually though 2019 to 50,500 metric tons. This increase is driven by the expanding use of Li-Ion batteries in hybrid and electric vehicles, energy storage systems, and high-drain portable electronics.
To learn more, check out the report: http://www.marketresearch.com/Freedonia-Group-Inc-v1247/Lithium-9309003/?progid=88633
With a huge increase in demand, the big question is will there be enough lithium?
Last year, Tesla formed supply agreements with two natural resource companies: Pure Energy Minerals and Bacanora Minerals. But Tesla is going to need more lithium than these producers can offer in order to meet its goal of producing enough Li-Ion batteries to supply 500,000 electric vehicles by 2020. Top automakers and other players in the electric vehicle sector will also be competing for adequate lithium supplies.
To find out more about ongoing investments in lithium production, read our blog: http://hubs.ly/H02NxD50
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