Lithium Demand Skyrocketing with EV Market Growth – A Bright Future for Lithium Plus (LPM)

The global lithium market is experiencing rapid growth, with demand forecast to increase by 25-30% per year as electric vehicle (EV) production accelerates. By 2030, it’s expected that over 2 million tonnes of lithium carbonate equivalent (LCE) will be needed annually, up from approximately 700,000 tonnes in 2023. The surge in demand has already driven lithium prices up by more than 400% in the past two years.Lithium Plus (LPM) is well-positioned to capitalise on this booming market. Recent drill results show high-grade lithium resources, with concentrations over 1.5% lithium oxide (Li2O), highlighting LPM’s strong potential as a significant player in the global lithium supply chain. Given the increasing pressure on supply, Lithium Plus could be an essential contributor to the industry, possibly meeting 5-10% of global EV battery demand by the end of this decade.In addition, the Australian government is backing the growth of critical minerals, including lithium, as part of its commitment to renewable energy and green industries. The government’s $2 billion Critical Minerals Facility aims to support companies like Lithium Plus in securing their projects and boosting Australia’s position as a leading lithium supplier. This support further strengthens LPM’s ability to scale up its operations and attract significant investment.For investors, Lithium Plus (LPM) represents an exciting opportunity as the global shift towards EVs and renewable energy continues to drive lithium demand to new heights.