Lithium prices continue to rise exponentially in China on the back of heavy demand for lithium iron phosphate (LFP) batteries, the first ever mid-month assessment by battery supply chain research and price reporting agency Benchmark Mineral Intelligence shows.
#China controls 60% of the world’s #lithium processing and #refining capacity and a similar percentage of cathode manufacture.
Tesla Surprises The Electric Car Industry
“In December 2020, only its second full month of sales, the 55KWh lithium iron phosphate (LFP) battery Tesla Model 3 captured 5.9% of the global full electric car market in terms of battery capacity deployed despite not being for sale in the US.”
The demand for #lithium will continue to increase creating even further pressure on electric vehicle prices.