Lithium could be one of the biggest stories of 2021.
After all, with the electric vehicle boom well under way, companies will need as much lithium as they can get their hands on. “It is anticipated demand for vehicle battery metal will increase sharply over the next several years as automakers abandon internal combustion engines for EVs,” as noted by Resource World.
In addition, “Forty percent of the company’s U.S. entries will be battery electric vehicles by the end of 2025. Barra also announced an increase in GM’s financial commitment to EVs and AVs today to $27 billion through 2025 – up from the $20 billion planned before the onset of the COVID-19 pandemic,” according to General Motors’ Chairman and CEO Mary Barra.
Helping even more, as reported by Yahoo Finance:
“Per Statista data, lithium demand is expected to more than double to 820,000 tons over the next five years. Chile’s state mining agency, Cochilco, projects lithium demand to increase to 1.79 million tons per year by 2030. According to Allied Market Research, the global Lithium-ion battery market was valued $36.7 billion in 2019 and is projected to hit $129.3 billion by 2027, at a CAGR of 18.0% from 2020 to 2027.”
One of the top companies thriving on the boom is Albemarle (ALB), which just ran from $90 to $151 and could head even higher. Other top lithium stocks to consider are Lithium Americas (LAC), Piedmont Lithium (PLL), American Lithium Corp. (LIACF), and Livent (LTHM).
