
MAX Power sees an incredible opportunity to take part in the growing demand for electric vehicles, mobile devices, and grid storage that is creating a long-term supply shortage and increasing lithium prices.
MAX Power sees an incredible opportunity to take part in the growing demand for electric vehicles, mobile devices, and grid storage that is creating a long-term supply shortage and increasing lithium prices.
With the Biden Administration providing $3.16B USD in funding for lithium projects domestically, and investing $5B USD towards the EV charging network, the U.S. is all in on the electrification of America. [1] – and Canada has adopted a similar position.
It is estimated that with the immense increase in battery metals demand, the world will need almost 400 new mines by 2035.[2]
[1] Benchmark Mineral Intelligence
[2] www.energy.gov/articles/biden-administration-announces-316-billion-bipartisan-infrastructure-law-boost-domestic
Global lithium mining market is expected to grow from $3.33B in 2020 to $6.37B in 2030. 98% of the world’s lithium production occurs in Australia, Latin America and China.[1]
Lithium demand is set to rise from 500,000 tonnes of lithium carbonate equivalent (LCE) in 2021 to an estimated 3,000,000 – 4,000,000 tonnes by 2030, representing , more than a 300% increase within the decade.[2]
Lithium surged from $6,000 per tonne to over $78,032 a tonne in 2022, representing a 13-fold increase in less than two years.[3]
Worldwide EV sales are forecast to increase from 6.5M units to 51M by 2030. Almost 400 new mines are needed to meet this demand by 2035. With over 80% of lithium ion battery production being in China and currently only one operating lithium mine in the United States, the U.S. Department of Energy is making a $3.16B investment in lithium ion battery production domestically to secure the supply of the future.
Source:
[1] Benchmark Mineral Intelligence
[2] Benchmark Mineral Intelligence
We’re entering an exciting time with MAX Power and we want to ensure you’re kept up to speed with everything that’s going on. Whether you have a question, would like more information or simply want to be added to our email list to receive all of the latest updates on MAX Power, be sure to sign up to keep in the know!
Investor Relations
Adrian Sydenham
info@marketsmart.ca
Toll-free:1-877-261-4466