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Explained | Lithium, its importance in EV batteries, where India is placed and the China factor
All the essential questions about lithium and why the commodity is so vital to the electric vehicle space answered. February 10, 2021 / 06:16 PM IST An electric vehicle can have 5,000 battery cells and an EV could need 10 kg of lithium.
Lithium is one of two commodities cobalt being the other that has gained the most since the beginning of 2021 on strong demand from the electric vehicles (EV) sector.
According to the
Trading Economics website, lithium has gained 41 percent since January 1. Based on the Chinese spot prices for lithium carbonate, which is used in making lithium batteries, the metal is quoted at 65,500 Chinese yuan (Rs 7.40 lakh) a tonne.