Electric vehicle battery makers are shaping global demand for lithium

MOSCOW, March 29The annual growth of the lithium market since 2021 is about 30%, while more than 85% of the demand for lithium is generated by manufacturers of batteries for electric vehicles, said Senior Vice President of the Russian Export Center (part of VEB.RF) Nikita Gusakov at the XIII International Forum «Atomexpo» -2024″.
He moderated the round table «Lithium: market prospects and integration priorities», emphasizing the critical importance of the element for knowledge-intensive and high-tech industries.
«»The demand for this metal is as high as ever. In particular, in 2021–23 alone, the annual market growth was about 30%. At the same time, more than 85% of the demand for lithium is generated by manufacturers of lithium-ion batteries for electric vehicles and stationary storage devices energy. It is expected that this share will only grow, including due to the active development of electric transport throughout the world,” Gusakov noted.
He added that the large-scale increase in demand for lithium is forming a new technological structure in national economies, which requires comprehensive solutions and new approaches to building industrial cooperation. Russian and foreign discussion participants discussed cooperation projects and technology for the industrial development of lithium with the participation of the Rosatom State Corporation.

“»At the same time, the success of the development of the lithium industry largely depends on the expansion of international cooperation and the creation of strategic partnerships both for the development of lithium deposits and joint production of lithium products,” summed up the vice-president of the REC.
The 13th International Forum “Atomexpo-2024” was held at the Sirius Science and Arts Park with the support of the state corporation “ Rosatom». Leading experts and specialists from several dozen countries took part in the forum, the key theme of which was defined as “Clean Energy: Creating the Future Together.” The forum format includes an exhibition and an extensive business program, the main topics of which are traditionally the development of nuclear energy as an environmentally friendly source of energy; human capital management, creation of nuclear energy infrastructure, financing and investment in the energy sector, development of non-power nuclear technologies and many others.