Caixin
Nov 24, 2021 08:31 PM
BUSINESS

Skyrocketing Lithium Prices Unlikely to Stabilize Soon, Says Ganfeng Chairman

Employees work at a battery production workshop of Ganfeng in May 2020. Photo: ganfenglithium
Employees work at a battery production workshop of Ganfeng in May 2020. Photo: ganfenglithium

Skyrocketing lithium prices aren’t likely to stabilize unless the new-energy vehicle industry begins to mass-produce alternative battery technologies or major recycling programs are put in place, according to the head of China’s largest miner of the metal.

Li Liangbin, chairman of Ganfeng Lithium Co. Ltd. (002460.SZ/1772.HK), told Caixin in an interview that the volume of installed batteries could exceed 3,000 gigawatt-hours (GWh) by 2030 and overall global demand for the material could reach 3 million tons.

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