Lithium has recorded an unprecedented rally in the last decade. The light, white shiny metal has wide-ranging applications like the production of greases, polymer production and ceramics and glasses. But its utilisation in the manufacturing of batteries has logged significant growth in recent times.
Good Read: How prepared is Australia to cash in on the upcoming lithium boom?
The use of lithium-ion batteries (LIBs) has been trending up staggeringly because of their rising utilisation in portable devices and electric vehicles. Sales of electric vehicles almost doubled in 2021, relative to the previous year, because of their robust demand over hybrid vehicles and improvement in their range corresponding to a single charge.
Source: © Dmitrynew83 | Megapixl.com
Demand for EVs is further expected to remain bullish in coming years as the world aims to make a swift transition to clean…