Market and product
Lithium batteries to dominate electric cars industry
Liberum Capital said that lithium batteries are already used in mobile phones, digital cameras and laptop PCs. But the recession hit auto industry is now exploring new ways to mass-produce electric vehicles with lithium ion and nickel metal hydride vehicles leading the way.
Mr Adam Collins analyst at Liberum Capital told Reuters at a roundtable event in London said that "Often the discussion is about what comes after lithium. For the foreseeable future 5 or 10 years it's lithium and lithium compounds."
Mr Collins said that most car makers would choose batteries using lithium a silvery white metal with nickel and cobalt elements known for small size and big power surge. Contract prices for lithium carbonate are currently at between USD 3 to USD 5 per lb.
Liberum forecasts that current market demand for lithium carbonate, used as a battery material is in balance at 30 million pounds per year. Global lithium carbonate supply was about 100,000 tonnes in 2008 up 2,000 tonnes from 2007 while consumption was a little higher at 105,000 tonnes up 2% YoY.
(Sourced from Reuters)
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