Driven by increased demand, especially from China for both carbonate and hydroxide, lithium price tailwinds have emerged into the third quarter of calendar year 2021. Much of the renewed demand from China comes from shifting of gears in the country’s commitment to ensuring 25% of all motor vehicles produced in 2025 are battery-powered electric vehicles (BEV).
Tesla was the largest producer of BEVs in 2020, and is still considered the most well-known name in the BEV market globally. However, new brands and models from China are appearing at an accelerating speed. In addition, many top technology companies in China (including Baidu, Xiaomi, and Huawei,) have announced their plans to participate in this BEV boom.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.