World Places and News

China tries to control global lithium supplies

China tries to control global lithium supplies

China tries to control global lithium supplies
December 05
07:05 2017


Xi Jinping, China's president, raises a glass to make a toast during a dinner banquet.

Dale De La Rey | Bloomberg | Getty Images

Xi Jinping, China’s president, raises a glass to make a toast during a dinner banquet.

China is outpacing the U.S. and other countries in a global race to secure supplies of an all-important element for electric cars.

China has emerged as the leading market player for electric and hybrid cars, accounting for approximately half of global sales. And with the world’s second-largest economy keen to develop the industry within its own borders, Beijing is looking to import a lot more lithium.

“Lithium is coming of age in a big way. It’s the core ingredient to 99 percent of electric vehicles and as a result, demand is going through the roof,” Simon Moores, managing director at research and data provider at Benchmark Mineral Intelligence, told CNBC in a phone interview.

As demand for electric vehicles skyrockets, Chinese firms have rapidly been making deals in a bid to secure supplies of lithium — a vital component used in batteries for electric vehicles.

Demand for lithium had been “bubbling under the surface” for several years, Moores said, before a renewed interest in electric cars about 18 months ago triggered a “desperate” global pursuit.



Source link

Share

About Author

harib

harib

Related Articles

Booking.com

—— — BEST OFFERS NOW! ——–



Site Statistics

  • Users online: 1 
  • Visitors today : 921
  • Page views today : 1,733
  • Total visitors : 154,084
  • Total page view: 589,735