As global automakers transition to manufacturing Electric Vehicles (EVs), it’s critically important that the raw materials are available in the supply chain to ensure battery quality and availability.
Lithium is a critical component in the production of electric vehicle (EV) batteries, and therefore, it is essential for the growth of the EV industry. Lithium is used as a key material in the cathode of the battery, which is the part of the battery that stores and releases energy during the charging and discharging cycles.
Lithium-ion batteries are the most common type of batteries used in electric vehicles, and they require a significant amount of lithium. In fact, an EV battery typically contains around 10-20 kilograms of lithium. Without lithium, it would not be possible to produce the high-performance, lightweight, and long-lasting batteries needed for EVs.
Currently, lithium is the most widely used material in EV batteries, and its importance is only expected to grow as the demand for electric vehicles continues to rise. As a result, lithium production has become a critical issue for the EV industry, and there are ongoing efforts to increase the global supply of lithium to meet the growing demand.
General Motors Invests $50 Million in Innovative U.S. Lithium Company
EnergyX is a company that extracts Lithium, refines it and develops cutting-edge battery technologies. With headquarters in San Juan, Puerto Rico and laboratories in Austin, Texas, the company is on the cutting edge supplying next generation lithium battery storage devices to the market.
“Electric vehicles need a lot of Lithium. There’s about 10,000 iPhone batteries that go into one electric vehicle.” said EnergyX founder Teague Egan. “Therefore, the demand curve for Lithium is exorbitant, while the supply is lagging behind. The current methods of production are extremely inefficient, so we decided to re-invent how Lithium is produced.”
Providing a reliable source of Lithium in the Western Hemisphere is a priority for General Motors as it commits to full-scale production of EVs, and EnergyX can potentially become a major supplier. Read news story here(CNBC).
EnergyX is a privately-held company that is exploring a potential IPO in the near future.