Electric car sales speak for rising lithium demand

Despite various negative targets, global sales of electric vehicles set a new record in 2023.

Crises, wars, inflation and a weak economy did not affect the registration figures. Around nine million pure e-vehicles were sold last year. This was around 29 percent more than in the previous year. And the number of e-cars continues to grow worldwide. Most of this growth is coming from China. The country is responsible for around 57 percent of all e-car sales. The volume of new registrations in China in 2023 was around 21% higher than in the previous year.

Almost one in four new cars in China is fully electric. The Chinese are particularly fond of plug-in hybrids, which saw strong growth of 83% compared to the previous year. The proportion of e-cars is also growing in Europe and the USA, albeit not as strongly as in China. The number of new plug-in hybrids in Europe has remained almost the same. Norway still has the highest percentage of electric vehicles in the entire vehicle fleet worldwide (82 percent of all vehicles there are electric).

In terms of direct CO2 and particulate emissions, electric vehicles are significantly better than conventional combustion engines. The extraction of battery raw materials often does not work without problems. Depending on the mining area, it is often associated with poor working conditions and environmental damage. However, there are also companies such as Targa Exploration or U.S. Critical Metals that will be able to extract the lithium required for the batteries under good conditions.

Targa Exploration – https://www.commodity-tv.com/ondemand/companies/profil/targa-exploration-corp/ – has 15 lithium projects in Quebec, Saskatchewan, Manitoba and Ontario.

US Critical Metals – https://www.commodity-tv.com/ondemand/companies/profil/us-critical-metals-corp/ – owns lithium, cobalt and rare earth elements in the projects (in Nevada, Montana and Idaho). A responsible approach to the environment and responsible resource development is important to both companies.

Current company information and press releases from U.S. Critical Metals (- https://www.resource-capital.ch/en/companies/us-critical-metals-corp/ -).

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