This European Lithium profile is part of a paid investor education campaign.*
Overview
As the global push to halt climate change gains momentum, the European Commission is looking to regionalize the battery supply chain to capitalize on the rapid electric vehicle (EV) growth and limit its dependency on other countries through heavy investment and policy changes. The European EV segment of the auto market has doubled from 5.7 percent to 11.9 percent in 2020 alone, despite the pandemic.
Even though Europe is one of the largest global producers of motor vehicles, it does not have a local supply of lithium hydroxide which is heavily used in EV battery technology. As a result, the European Commission has backed support into lithium production. According to experts, the market is set to move into a structural deficit of lithium from 2025 onwards as demand for lithium outpaces supply.
One company that aims to become the first local lithium supplier into an integrated European battery supply chain is European Lithium (ASX:EUR,FRA:PF8), a mining exploration and development company focused on exploring, identifying and acquiring lithium in Europe. The company is led by a management team with decades of experience and success in the mining and finance markets.
“Our aim is to be the first supplier of lithium from Europe, for Europe,” European Lithium Chairman Tony Sage said.
The company’s sole focus is on its wholly-owned Wolfsberg Lithium project located in Carinthia, Austria. The...
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