Lithium is a key ingredient in the power plants of electric vehicles, prompting Public Broadcasting (PBS) to say that, “Lithium is a metal which may soon make our old-fashioned, oil-dependent vehicle obsolete.” Technology Review has said that,”Lithium batteries are driving a renaissance in electric vehicle development.”
Lithium battery powered electric vehicles come in a range of sizes and configurations from tiny unicycles to large transport trucks. Toyota’s Prius is a well known hybrid vehicle that has been a commerical success for years followed by Honda’s Insight. Nissan recently inaugurated an affordable vehicle called the Leaf and most car makers have already released hybrids in a range of classes from subcompact to SUV.
After investing one billion dollars, General Motors is coming out with the highly anticipated electric car called the Volt. With the help of lithium batteries, GM estimates that the Volt can get 230 miles per gallon.
BusinessWeek magazine says, “Large and niche automotive makers are declaring the electric car the vehicle of the future…” The Financial Post reports, “people are realizing there are going to be an awful lot of lithium batteries used in electric vehicles.”
The Wharton Business School raves about the electric car saying “the global impact would be enormous.” As reported by the BBC, Mitsubishi expects that the demand for lithium will outstrip supply.
The coming explosion in electric vehicles makes lithium a sound investment.
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