![]() ![]() Considering the above, we have compiled a list of some cheap lithium stocks to buy today, according to analysts. Governments like the US government have also been pushing for more EV production under proposals such as those put forth by the US Environmental Protection Agency, which forecasts US automakers to produce 60% more EVs by 2030 and 67% more by 2032 to meet EV production requirements, according to Reuters this April. This amount is forecasted to be worth almost $21.6 billion at that point.ĭirect lithium extraction represents a significant growth opportunity for many lithium companies across the globe today, especially with the demand for EVs and lithium batteries being steadily on the rise. This method is also projected to increase lithium production from 54,000 metric tons in 2023 to 647,500 metric tons by 2032, according to Benchmark Mineral Intelligence. “The auto industry requires a 20x increase in lithium supply and there’s just no way to achieve that type of growth with conventional technologies.” New Technologies Take The Stageīecause of this, companies in the industry are now using a new technology known as direct lithium extraction, which promises to increase the efficiency of lithium extraction while minimizing negative risks associated with older methods. Dave Snydacker, the founder and CEO of Lilac Solutions, made the following comment on this matter: As such, lithium companies like Lilac Solutions have set about trying to resolve their issues. According to CNBC this June, automakers have been setting ambitious EV targets that they have been struggling to meet. With rising demand, lithium companies are trying to increase the extraction of the chemical while minimizing the adverse environmental impacts of this process. However, without lithium batteries, most of these companies would be left in the dust, a fact that makes the importance of this commodity more apparent than ever before. (NASDAQ: RIVN), and Albemarle Corporation (NYSE: ALB) have managed to reap the benefits of this demand. As a result, companies operating in this space, such as Tesla, Inc. The emission of harmful gases from traditional cars has rapidly become an issue of pandemic proportions, leading to rising demand for environmentally friendly alternatives in the form of EVs. With climate change and global warming on the rise, corporations and governments across the globe have implemented green programs and solutions in their operations. Environmental Awareness: A Benefit To The Lithium Industry Some might argue the most important reason is the metal’s use in rechargeable batteries for mobile phones, laptops, cameras, and perhaps most importantly, electric vehicles (EVs). Lithium is one such metal that has quickly become an important resource to businesses and consumers across the globe because of several reasons. Since these commodities have managed to stay in demand, the companies dealing with their exploration, provision, and processing have also stayed relevant. Metals, minerals, and other resources have long held an important place in the global economy and, subsequently, in the financial markets. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |