Lithium producers play a vital role in the electrification of vehicles.
The electrification of automobiles is projected to drive the lithium-ion battery market, considerably increasing demand for lithium-ion batteries in the near future. The growing awareness of the amount of carbon emissions released into the environment from automobiles, plus the recent advances made in battery technology, has helped spur the adoption of electric vehicles around the globe.
This, in turn, has put the burden on manufacturers to offer electric vehicles powered by lithium-ion batteries, instead of adopting other battery alternatives due to their lightweight nature, high energy density, and low cost.
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. Cadence Minerals holds approximately 7.2% percent of the equity in European Metals Holdings.