ULTRA LITHIUM INC. — TSX.V-ULT
Ultra Lithium Inc. ULT
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Blog - Latest News
Battery Capacity

Battery Capacity Worldwide Doubles in 1 Year

May 15, 2019/in In the News/by Gray Leigh

Global Battery Capacity Doubles Year-Over-Year

Yes, electric vehicles are on the rise. However, global sales only increased by 25% year-over-year. Meanwhile, global battery capacity rose by 94%. Reported by a prominent battery metals tracker, this surge is remarkable – no pun intended.

READ: Auto Savings: Are EVs Worth It?

Overall, 9.76 GWh of passenger EV battery capacity was deployed globally. There are a number of reasons for this stark increase. However, major growth in the Chinese sector helps this along.

China Leads the Global Push

Battery capacityCurrently, nearly 500 electric vehicle manufacturers compete for dominance in China. The world’s second-largest economy will hit 1.6 million EV sales by year’s end.

Consequently, the prospect of more global sales has encouraged li-ion producers to improve their product. Additionally, most of the world’s largest automakers have invested heavily in the technology. Everyone from VW to Harley-Davidson has a vested interest in improving Li-Ion battery capacity.

Similarly, government policy overwhelmingly favours EV adoption. Even the United States plans to revive its expired EV tax credit.

Goodbye, Range Anxiety: Serious R&D Money Backs Li-Ion Battery Tech

Battery CapacityMoreover, fully electric vehicles take market share from hybrids. Consequently, lithium demand grows.

As a result, the world’s largest companies put more resources and energy than ever into Li-Ion battery technology. Therefore, lithium and cobalt earn more attention than ever.

These minerals are central to the development of electric vehicle batteries. Currently, China owns over half the global supply.

Chinese ambition produces a cheaper, more effective battery. Competition among Chinese producers benefits EV owners.

Evidently, being stranded without a charge is no longer likely.

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Ultra Lithium Inc. A team of clean energy experts with a finger on the pulse of clean energy news, ULI is a lithium exploration company with holdings in Argentina, Canada and the US (TSX-V: ULI, OTCQB: ULTXF and Frankfurt: QFB).

 

 

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LATEST NEWS

  • Ultra Lithium Cuts 1.81 Percent Lithium Oxide Over 10 Meters in Channel Samples at the Forgan Lake Lithium Property Northwestern OntarioMarch 3, 2023 - 10:16 am
  • Ultra Lithium Invites Shareholders and Investment Community to Visit Booth #2353 at PDAC 2023 Toronto, March 5-8, 2023March 2, 2023 - 6:00 am
  • Ultra Lithium Assays Up To 417 PPM Lithium in Drill Hole at the Laguna Verde Brine Lithium Project in ArgentinaFebruary 28, 2023 - 4:30 am
  • Ultra Lithium Intersects 2.68 Percent Lithium Oxide at The Forgan Lake Lithium Property in Northern Ontario, CanadaFebruary 8, 2023 - 5:00 am
  • Ultra Lithium Responds to Government of Canada Critical Minerals AnnouncementNovember 4, 2022 - 4:30 am

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Forgan Lake Lithium Pagmatites
South Big Smoky Valley Project

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CONTACT INFORMATION
Ultra Resources Inc.
1120 – 789 West Pender St.
Vancouver BC V6C 1H2
Canada

Kiki Smith, CPA, CGA
Chief Financial Officer
E: [email address protected by javascript]
T: +1-778-968-1176

Afzaal Pirzada, M.Sc.(Geo), P.Geo.
Vice President, Exploration
E: [email address protected by javascript]
T: +1-778-558-4940

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Rising Fuel Costs Drive Vancouverites to EVsRising fuel costsUltra Lithium Closes Private Placement
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