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Lithium Producers Play a Vital Role in the Electrification of Vehicles

PR Newswire - Mon Mar 20, 2023

FinancialBuzz.com News Commentary

NEW YORK, March 20, 2023 /PRNewswire/ -- The electrification of automobiles is projected to drive the lithium-ion battery market, considerably increasing demand for lithium-ion batteries in the near future. The growing awareness of the amount of carbon emissions released into the environment from automobiles, plus the recent advances made in battery technology, has helped spur the adoption of electric vehicles around the globe. This, in turn, has put the burden on manufacturers to offer electric vehicles powered by lithium-ion batteries, instead of adopting other battery alternatives due to their lightweight nature, high energy density, and low cost. According to data provided by Research and Markets, the global lithium market size was valued at USD 7.1 Billion in 2021, and is expected to reach a value of USD 15.45 Billion by 2028, with a CAGR of 11.75% over the forecast period 2022 - 2028. Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTC: FRRSF), Patriot Battery Metals Inc. (OTC: PMETF) (TSX-V: PMET), American Lithium Corp. (NASDAQ: AMLI) (TSX-V: LI), SIGMA Lithium Corporation (NASDAQ: SGML) (TSX-V: SGML), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC).

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Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.