The race to power electric vehicles has set off a competition to capture lithium. That’s a troubling sign for batteries
Jeremy Moeller/Getty Images
With EV sales growing and demand set to stay high for a while, it makes sense to lock in what’s needed for these new-age cars. Global lithium consumption is estimated to grow fivefold by end of this decade, BloombergNEF reported. That’s pushed prices of the metal, a main ingredient for most EV batteries, to recent highs. They’ve hit records in China and a benchmark index has more than doubled this year.
In late September, CATL entered into a definitive agreement to acquire Millennial Lithium Corp, a Canadian exploration-stage mining company, for CAD377 million , beating a Ganfeng bid. But then on Monday, Lithium Americas announced that it had submitted an unconditional offer to acquire Millennial for $400m
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eskom warns of possible power cutsThe power utility says units at Arnot, Hendrina and Lethabo power stations have suffered breakdowns.
Read more »
Sundowns beat Martizburg to go three points clear on top of the league standingsThere's no stopping the well-oiled Mamelodi Sundowns machine.
Read more »
Sundowns beat Martizburg to go three points clear on top of the league standingsSundowns beat Martizburg to go three points clear on top of the league standings HadebeSazieso
Read more »
Lamiez Holworthy and Khuli Chana continue to prove that love isn't deadMusic power couple in tune with each other as best friends.
Read more »
Eskom says system is under ‘severe pressure’, urges South Africans to use power sparinglySouth Africans experienced various stages of load-shedding last week due to a constrained power system.
Read more »