It’s important to note that there is a massive amount of lithium on earth. Lithium is not like oil—there’s a massive amount of it pretty much everywhere," he said, explaining that all US vehicles could be replaced with EVs using lithium sourced in America alone.
Mr Baglino added: "There really is enough lithium in Nevada alone to electrify the entire US fleet."
So I guess all the Tesla fan boys can stop posting now?
Musk will squeeze lithium producers into oblivion. It will be like how Rio and BHP are the only decent producers of iron ore. It's all about the money and Tesla will make sure to suck up all value in the production chain and it starts from the cost of lithium. Everything will go down to marginal cost and only huge scale will triumph.
albemarle amongst one or two others will be the only ones left standing in a few years. This is like the iron ore boom in the late 2000s all over again. Remember Atlas iron and mt Gibson iron ore? They all got crushed.
Wait till the Chinese start mining lithium in their own country.
