Why US-Based Lithium? An Opportunity Ready to Happen.
Currently, China controls 83% of the processed lithium needed to produce lithium-ion batteries. They also have a large position in actual battery assembly. Beyond their production dominance, they are heavily invested in sourcing the raw materials required to produce battery-grade lithium. This comes from partnerships with countries and companies in Chile, Argentina, Australia, and several others.
China’s position in the lithium supply chain, coupled with their investment in, and with other countries, creates an unnecessary headwind for the U.S. lithium-ion battery and electric vehicles market. It doesn’t have to be this way.
Today the U.S. contributes less than 2% of the world supply of lithium, even though we hold 17% of global lithium reserves. The creation of a uniquely American electric vehicle supply chain will benefit US workers, the US economy and US producers of lithium-ion batteries, components, and electric vehicles.
Reinventing the current supply chain will create more favorable economics related to accessibility, affordability, and speed-to-market for everyone involved.