Widespread introduction of electric vehicles increases demand for lithium – Batteries News | CarTailz

The widespread adoption of electric vehicles increases the demand for lithium.

Lithium-ion batteries are rapidly being adopted for their compact size, rechargeability, recyclability, and high-density energy output. They are, among other things, a power source for electric vehicles (EVs).

Additionally, growing awareness of the amount of carbon emissions released into the environment by cars has helped drive the adoption of electric vehicles around the world. This, in turn, has forced manufacturers to offer electric vehicles powered by lithium-ion batteries rather than other battery alternatives due to their light weight, high energy density and low cost.

Now, according to Research and Markets, the global lithium-ion battery market is expected to grow at a CAGR of around 26.04% and reach a value of around USD 160.21 billion by 2026, after peaking at USD 42 in 2020 .30 billion USD. Infinity Stone Ventures Corp. (OTC: GEMSF) (CSE: GEMS), Snow Lake Resources Ltd. (NASDAQ:LITM), Standard Lithium Ltd. (NYSE: SLI), Lordstown Motors Corp. (NASDAQ:RIDE), Li Auto Inc (NASDAQ:LI)

According to data from Allied Market Research, the global electric vehicle market was valued at US$162.34 billion in 2019 and is projected to reach US$802.81 billion by 2027, at a CAGR of 22.6%.

Geographically, the Asia-Pacific region was the top contributor to revenue at $84.84 billion in 2019 and is expected to reach $357.81 billion by 2027, at a CAGR of 20.1%. Still, the North America region is expected to grow faster as it is estimated to reach $194.20 billion by 2027 at a significant CAGR of 27.5%.

Infinity Stone Ventures Corp. (OTCQB: GEMSF) (CSE: GEMS) last week provided “an exploration update on its Camaro and Hellcat lithium project (the “Camaro Hellcat Project”) alongside Patriot Battery Metals (“PMET” or “Patriot”) Corvette Lithium Discovery in Quebec’s James Bay Lithium District.

The Fall exploration program conducted by Infinity Stone’s technical team, Axiom Exploration Group (the “Fall Program”) has been extremely successful in confirming historically mapped pegmatites and identifying new showings. 87 samples were collected on 3,850 hectares of claims adjacent to the Patriot discovery.

Samples have been shipped to the Saskatchewan Research Council (“SRC”) laboratory in Saskatoon, Sask., with assay results expected to be returned in the coming weeks.

One of the significant highlights of the fall program was the identification of a cluster of highly prospective pegmatite veins and transverse structures near the northern margin of the Hellcat claims that are expanding northward, resulting in the Company expanding its claim area.

The white, coarse-grained pegmatite veins in this area have been mineralogically characterized by tourmaline, garnet and muscovite, which are common LCT (Lithium Cesium Tantalum) pegmatite indicator minerals in the area.

The Hellcat claims lie under a 9 km strike length of underexplored greenstone and metasediments of the Mesoarchean Rouget Formation and the neoarchean Marbot Formation, respectively.

The underexplored greenstone belt of the Rouget Formation represents an attractive exploration target geologically similar and close to the Guyer Group greenstone that hosts the PMET Corvette pegmatites.

Infinity Stone is in the process of defining the next steps of its exploration program, including completing a geophysical survey of the project ahead of a planned drilling program in early Q1 2023. With the improved infrastructure in the region, winter access and operability, the Corvette lithium trend has evolved significantly improved, ultimately enabling winter drilling on the Camaro-Hellcat project.

Zain KaljanCEO of Infinity Stone said:

We are pleased to continue our exploration efforts at the Hellcat-Camaro project with the identification of pegmatites beneath the Rouget greenstone that show parallels to the geology underlying Patriot’s Corvette discovery and warrant further exploration.”

“The progress made on our James Bay property, combined with ongoing exploration on our other assets, is timely given the rapid growth in the lithium and battery metals market over the past few months. Almost every day there is another announcement to expand the North American battery metals supply chain.”

“Every major automaker and battery maker is in the process of building infrastructure in Canada and the U.S., all in the context of significant government support, including the Biden administration’s recent announcement of $2.8 billion to support manufacturing and processing companies in the battery metal room,’ promoted Mr. Kalyan.”

Snow Lake Resources Ltd. (NASDAQ: LITM) on October 4 announced that it hosted LG Energy Solution on September 13 in Manitoba, Canada to explore the potential next step in building a domestic supply chain for the North American electric vehicle market.

Philip Grosssaid CEO Snow Lake Lithium:

The visit was a great success and here in Manitoba is an exceptional opportunity to build a strong domestic supply chain for the US automotive industry.

“Following our exciting collaboration with global leader LG Energy Solution, we are confident that our rock-to-road battery supply chain will support the EV market in North America.”

standard lithium ltd (NYSE: SLI) last week provided an update on its commercial development operations in El Dorado, Arkansas. The Hydroxide pilot plant was designed and built by a global third-party water and process technology provider in early 2022 and was successfully installed and commissioned at the project site in early October.

The technology is housed in a self-contained unit and accepts the lithium chloride feed produced by the Company’s existing direct lithium extraction (DLE) demonstration plant; It then converts this feed directly into a lithium hydroxide solution using a novel ion exchange process.

The lithium hydroxide solution generated by the hydroxide pilot will be shipped to another site operated by the third party to complete the evaporation and crystallization work to produce battery grade lithium hydroxide.

Lordstown Motors Corp. (NASDAQ: RIDE) announced back in September that it had begun commercial production of its full-size Endurance™ pickup truck and provided a business update.

Edward HightowerLordstown CEO and President said:

We will continue to build slowly while we address the remaining pedigree and part availability issues.

“We anticipate ramping up production speeds into November and December.”

“Our homologation and certification processes are proceeding as planned.” Lordstown Motors is an electric vehicle (EV) OEM developing innovative light commercial vehicles, with the all-electric Endurance pickup being the first vehicle to be launched at the Lordstown, Ohio facility .

Li Auto Inc. (NASDAQ: LI) announced yesterday that the company delivered 10,052 vehicles in October 2022, up 31.4% year-on-year. The cumulative deliveries of Li Auto vehicles reached 221,067 at the end of October.

Yanan ShenCo-founder and President of Li Auto said:

Since its launch, Li L8 has received positive user feedback and wide acclaim, and got off to a strong start with a steady increase in orders.

“We will officially start shipping Li L8 this month. Regardless, Li L9 orders remained robust and user satisfaction levels continued to exceed expectations, further solidifying our market position in the RMB400,000+ segment.”

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Widespread adoption of electric vehicles increases demand for lithium, NEW YORK, November 2, 2022

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