With automakers scrambling to scale their electric fleet production, many components and commodities are now in high demand. The semiconductor chip shortage has dominated headline news for the past couple of years. But chips aren’t the only thing automakers lack. The demand for lithium has also recently surged, as it is critical to manufacturing the batteries that power EVs. Fortunately for U.S. manufacturers, the Snow Lake Lithium mine promises to supply enough of the mineral to help power millions of EVs.
Why lithium is critical to EV production
As per Energy X, EVs require batteries to operate that can store large amounts of energy. The more they can store, the more range a vehicle will have. They also need to be able to be recharged frequently without significant degradation. Otherwise, drivers would find themselves replacing their batteries more often than they’d like.
Lithium isn’t the only mineral that can store a significant charge and be recharged relatively frequently. But it does handle electric charges more efficiently than other substances. Lithium-ion batteries have already been used by cellphones, laptops, and solar battery devices, among other electronics. But for them to serve as the standard for the auto industry requires a massive increase in mining, refining, and distribution.
On average, EV battery systems contain 17 lbs. of lithium. When you consider how many millions of cars are sold each year in the U.S. alone, you’ll see just how massive the demand is for lithium each year. Moreover, automakers are continuing to find new ways to expand the charging capacity and driving range that can be harnessed from lithium-ion batteries. So even while some companies are investing in alternatives, the lithium-ion battery will remain the industry standard for years.
Additionally, the U.S. has been working to reduce its dependency on foreign suppliers for key technologies and materials. To that end, the Inflation Reduction Act of 2022 incentivizes U.S. automakers to produce their vehicles onshore. These incentives put more pressure on domestic suppliers of lithium, and other materials, to expand their operations.
That’s Biden’s COCAINE !!!!!
Pelosi probably Owns the Mine !!!! Like Dominion Election Software !!!!
Hunter’s coke stash !!!