Tesla gives lithium a boost
Tesla Motors recently announced that it would build the world’s largest battery factory, in anticipation of strong demand over the next three years for its third-generation electric vehicle, which retails at just USD 35,000.
This vehicle runs on lithium-ion cells, thus increasing demand for lithium batteries. Tesla already plans to buy around 1.8 billion lithium-ion cells over the next four years from Panasonic, but this may still not be enough. Tesla’s news is expected to increase global demand for lithium, pushing up the price and benefiting the world’s three major lithium producers – Sociedad Quimica y Minera, FMC Lithium and Rockwood.