Lithium mines could attract Elon Musk's Tesla to UK's growing electric car market - Business Insider

Electric cars run on lithium-ion batteries, which are largely produced in factories in China.

Though Britishvolt is building the first "Gigafactory," a place where lithium-ion batteries are produced, in South Wales, experts say the UK government needs to do more to ease China's stronghold on the lithium battery market. Localizing production will hasten the growth of the UK market, and could help set Britain up for 2035, when experts predictto implement a planned ban on petrol, diesel, or hybrid cars. But more than that, it will facilitate a much-needed shift in the electric car market, away from long, environmentally damaging supply chains, towards localization.

"Domestic sourcing of raw materials where possible is important because that gives you security of supply," says Simon Moores, managing director of Benchmark Mineral Intelligence, which analyses the battery-to-electric vehicle supply chain. "Especially in a post-COVID era where this trend of globalisation is being cut back ... Every major country that produces cars is going to need its own battery capacity.

Cornish Lithium is part of the Lithium for the UK study, funded by the Government's Faraday Battery Challenge, that is exploring Cornwall as a potential supplier of battery-grade lithium. It recently raised more than $1 million, on top of, to continue its evaluation of lithium from hot springs and hard rock in Cornwall. In August, it was announced it would receive $5.

elonmusk should explore the option of southern Afghanistan Kandahar and Helmand provinces have mega tons of lithium forever

The liberator.

Still not sold a god saving glorified golf cart for $35K YET...

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside Citadel's remote summer internship at a luxury Wisconsin resort - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. $400/night they were putting these kids in a motel 6
Source: BusinessInsider - 🏆 729. / 51 Read more »

Elon Musk is now worth $100 billion, half of Jeff Bezos - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Jeff’s sleeps later and works differently.
Source: BusinessInsider - 🏆 729. / 51 Read more »

The usage-based insurance market will continue growing in importance amid the pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. The insurance industry is still about as honest as a politician. Lmao
Source: BusinessInsider - 🏆 729. / 51 Read more »

Amazon adds 1,800 Mercedes-Benz electric vans to European fleet - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »