Ann: Lucas Dow appointed as Managing Director and Chief Executive, page-236

Positive developments are emerging from our counterparts in the USA. Currently, the United States hosts 27 battery electrode and cell manufacturing plants, with a combined annual capacity of approximately 280 GWh. Notably, only 12 of these facilities have a capacity exceeding 1 GWh, qualifying them as “gigafactories.”Companies are capitalizing on attractive incentives and support available at both state and federal levels to establish additional gigafactories within the US. These facilities aim to supply the burgeoning electric vehicle (EV) and energy storage system (ESS) markets. Moreover, over 40 gigafactories are either under construction or in the planning stages in the US, which will collectively add more than 1,000 GWh to the nation’s annual production capacity, effectively tripling the current capacity.

This significant expansion is poised to drive increased demand for lithium within the region, thereby enhancing liquidity in the US market. Consequently, there is a need for a comprehensive suite of lithium prices that accurately captures and reflects the impact of this growing demand while ensuring greater market transparency