With demand for high-density energy storage set to surge, Goldman Sachs has claimed that lithium, a vital component in batteries, is “the new gasoline”. There is currently a global scramble to secure supplies of lithium by the world’s largest battery producers and by end-users such as carmakers. At the moment, the main lithium-ion battery-makers are Samsung and LG of South Korea, Panasonic and Sony of Japan and ATL of Hong Kong. However, the Italian government is currently stepping up the promotion of lithium-ion batteries and electric vehicles. Tesla Motors is also preparing to start production at its “Gigafactory” in Nevada, which it hopes will supply lithium-ion batteries for 500,000 cars a year within five years. Bigger carmakers such as Toyoto also have a growing appetite for the element, something likely to increase as emissions standards in Europe and America become tougher. Demand for electricity storage may also boost the desire for lithium.
With demand for high-density energy storage set to surge, Goldman Sachs has claimed that lithium, a vital component in batteries, is “the new gasoline”. There is currently a global scramble to secure supplies of lithium by the world’s largest battery producers and by end-users such as carmakers. At the moment, the main lithium-ion battery-makers are Samsung and LG of South Korea, Panasonic and Sony of Japan and ATL of Hong Kong. However, the Chinese government is currently stepping up the promotion of lithium-ion batteries and electric vehicles. Tesla Motors is also preparing to start production at its “Gigafactory” in Nevada, which it hopes will supply lithium-ion batteries for 500,000 cars a year within five years. Bigger carmakers such as Toyoto also have a growing appetite for the element, something likely to increase as emissions standards in Europe and America become tougher. Demand for electricity storage may also boost the desire for lithium.