Where is the road of lithium electricity industry? The global lithium industry needs $10-12 billion in investment over the next decade

The global lithium industry will need to invest at least $10-12 billion over the next decade to meet the growing demand for plug-in electric vehicles, according to SQM, a Chilean company.

Daniel Jimenez, senior vice president of business at SQM, also pointed out that lithium demand is expected to increase by another 600,000 to 800,000 tons of lithium carbonate equivalent in the next 10 years or so.

Further information was provided: "SQM's projections are based on typical undeveloped investment expenditures per ton of lithium carbonate equivalent. Historically, the industry underestimated demand for lithium and overestimated supply. "

"The company is currently producing 48,000 tons of lithium carbonate per year in Chile. It will expand to 70,000 tons this year and 100,000 tons next year. "Jimenez said.

It was recently announced that the Chilean authorities had approved $754 million for investment in New lithium mines in the country. While such news does not in itself mean much, it has only come to the fore as sales of plug-in electric vehicles appear to be on a fast track and battery-based energy storage products and projects have become more common.

Presumably, more announcements about large-scale investment in the lithium industry are expected in the near future.

The page contains the contents of the machine translation.