Lithium: The Key to Unlocking Australia's Dominance in the EV Industry
Lithium: The Key to Unlocking Australia's Dominance in the EV Industry Lithium, a crucial component in electric vehicle (EV) batteries, has become a highly sought-after resource. As the world shifts towards sustainable energy solutions, Australia has emerged as a key player in the lithium market, poised to control the EV industry. Why Lithium Matters Lithium is essential for the production of lithium-ion batteries, which power EVs. With the global demand for EVs expected to rise exponentially, the demand for lithium is also skyrocketing. According to forecasts, the global passenger EV market will grow annually by 26% through 2030 [4). Australia's Lithium Dominance Australia is currently the world's largest producer of spodumene, a mineral used to produce lithium hydroxide. The country's lithium reserves are among the highest grades globally, making it an attractive supplier to the EV industry. Australian miners, such as Anson Resources, have secured lucrative deals wi...