ULTRA LITHIUM INC. — TSX.V-ULT
Ultra Lithium Inc. ULT
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Blog - Latest News
ev growth

EV Growth Increases Lithium-Ion Battery Demand

November 1, 2018/in In the News/by Gray Leigh

Demand for Lithium Batteries to Hit $500 Billion by 2050 Due to EV Growth

According to research by Sanford C. Berstein & Co. the market for electric vehicle batteries will hit $500 Billion USD by 2050. That’s a multiple of 10. Consequently, EV growth increases the value of lithium-ion batteries. Today, manufacturers aren’t benefiting much. They’re spending billions establishing global relationships and improving manufacturing capacity. ev growth

However, the future benefits are staggering. Even suppliers who formed before 1908 are scaling to match expected demand. Although global EV sales still lag behind gas-guzzlers, exponential change is coming.

The Industry Scales – Quickly

The next 2 decades will see huge gains in EV demand, according to BlackRock Inc. As a result, asset managers open massive funds to support lithium-ion and EV manufacturing. No matter your take on the transportation industry, the smart money appears to be on clean energy.

Furthermore, another report finds that lithium-ion battery prices in the mid-2020s will fall by more than 50%. This means that electric vehicles will be widely accessible to the middle-class soon. By this estimate, EVs will achieve cost parity with gas-powered vehicles by 2030.

The Global Lithium Shortage

ev growthHowever, tech advances in battery storage mean nothing without the minerals that power them. Lithium and cobalt are the primary components of lithium-ion batteries. Used in electric vehicles and most consumer electronics, most of the world’s lithium mines are found in South America.

On a related note, Ultra Lithium Inc recently applied for a drilling permit at its Laguna Verde site in Argentina. Consequently, the lithium extracted from the 23-square-kilometre basin will help supply EV manufacturers. EV popularity will take the value of lithium to new heights

Ultra Lithium Inc. A team of lithium experts with a finger on the pulse of clean energy news, Ultra Lithium 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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Laguna Verde Brine Lithium Property
– Laguna Verde Brine Photos
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Georgia Lake Lithium Pagmatites
– Georgia Lake Lithium Photos
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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