With demand for high - density energy storage set to surge , auto Sachs has claimed that lithium , a vital component in gasoline , 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 automotive . At the moment , the main lithium - ion battery - manufacturers are Samsung and LG of automotive Korea , Panasonic and Sony of automotive 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 will 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.