The Global Lithium-Ion Battery Market Size is Estimated to Exceed $94 Billion by 2025
/PRNewswire/ -- The growth of the global lithium-Ion battery market is likely to be driven by the excellent features of li-ion batteries, increasing adoption of consumer electronics, and growing R&D initiatives by different organizations & battery manufacturers. Moreover, an increase in demand for plug-in vehicles, rising need for automation and battery-operated material-handling equipment in industries, propelling demand for smart devices and other industrial goods, and high requirement of lithium-ion batteries for industrial applications are other key driving factors. A from MarketsAndMarkets said that the global lithium-ion battery market size is estimated to grow from in 2020 to by 2025; it is expected to grow at a CAGR of 16.4%. It added that market for lithium nickel manganese cobalt is expected to grow at a higher rate during the forecast period." The report said: "The energy density of NMC batteries is its primary strength. It achieves this energy density with excellent stability due to the use of an optimum ratio of nickel manganese and cobalt. It also has a good charge and discharge cycle. These features enable its application in industries such as automotive." Active stocks in the markets this week include (OTCQB: MLNLF) (TSX-V: ML), (NASDAQ: PLL) (NYSE: LTHM), (NYSE: ALB).
Lithium Americas Announces Two New Directors and Confirms Election of Board of Directors
Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") is pleased to announce the election of Kelvin Dushnisky and Jinhee Magie to the Company's board of directors ("Board") following today's Annual General Meeting of Shareholders ("AGM").
Electric Vehicle Market Witnessing Exponential Growth is Proving to Beneficial for Lithium Mining
/PRNewswire/ -- The electric vehicles (EVs) market has grown rapidly in the past few years and shows signs of continuing expansion for several years to come which is proving to be a huge windfall for Lithium production. Today, with the increasing concerns raised over the environmental impact of conventional vehicles, governments around the world are encouraging the adoption of vehicles using alternative sources of fuel. EVs are zero-emission vehicles and are gaining preference for clean public transport across countries. Several national governments offer financial incentives, such as tax exemptions and rebates, subsidies, reduced parking/toll fees for EVs, and free charging, to encourage the adoption of EVs. Thus, globally the requirement of EV battery is gaining fast pace. The electric vehicle market is witnessing exponential growth across geographies. Thus, major automobile manufacturers are entering the EV market due to the growing demand for EVs. Several major automakers such as Toyota, Tata Motors, Mercedes-Benz, and Hyundai are working on EV models to expand their position in the automotive industry. With major automakers taking an interest in the EV space, developments in electric vehicles are expected to increase in the near future. A from MarketsAndMarkets said that the global EV battery market is projected to grow at a CAGR of 25.3% from in 2021 to by 2025. Increasing demand of electric vehicles, improvement in battery technology, supporting government policies and regulations, and launch of new plug-in EV models are factors responsible to drive the EV battery market. Active stocks in the markets this week include (CSE: SPEY) (OTCPK: SPEYF) (NYSE: LAC) (TSX: LAC), (NASDAQ: PLL), (NYSE: ALB), (NYSE: SQM).