In 2014 alone, more than 70 million cars were sold globally, providing an enormous available market for lithium-based batteries.
Chengdu, July 05, 2016 — Concept Mining, a lithium exploration and development company with a focus on becoming a low-cost supplier for the lithium battery industry, releases a new study emphasizing the new trend in lithium usage.
In the study it is shown that lithium is the lightest solid element on earth with double the energy density of the next closest alternative; it is also one of the most abundant elements on earth. These unique properties ideally position it for portable energy storage applications that will be a key enabler of the electric car revolution and replace gasoline as the primary source of transportation fuel.
Oil derivatives have been the primary source of transportation energy since the commercialization of the internal combustion engine. However, thanks to technology breakthroughs, favorable policy and supportive public opinion, electric vehicles (EVs) appear poised for a sustained period of superior growth with our autos team estimating 22% EV penetration (BEV, PHEV, and HEV combined) in 2025 from under 3% today.
Despite its almost universal acceptance in portable electronic devices today, we believe that the greatest opportunity for lithium-ion batteries lies ahead in the form of transportation applications. The core material that enables lithium-ion batteries to function is lithium.
Fu Zhaobai, VP of Project Development, said: “We estimate that a 1% increase in battery electric vehicle (BEV) penetration would increase lithium demand by 70,000mt of LCE/year (or roughly half of current global demand for lithium). In order for electric vehicle penetration rates to hit industry forecasts, significant capital investments to expand commercial lithium capacity will be needed, particularly from producers and/or EV OEMs.”
About Concept Mining
Concept Mining is a lithium exploration and development company with a focus on becoming a low-cost supplier for the lithium battery industry. The clear vision to focus on projects with simple operations with a lower cost structure has delivered rapid results and a strong company position. The firm is a multi-faceted miner with lithium exploration portfolio, and mining services that delivers drilling, geophysical and project development services. With a range of select projects in production and in development, the company’s pipeline of sustainable and low capital mining operations ensures the company will continue to deliver shareholder value, profitability, liquidity and growth.
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Chengdu, Chenghua District, China