Canada Lithium CEO sees soaring demand as electric vehicles gain popularity
By Kristine Owram
THE CANADIAN PRESS
TORONTO, March 29 /CNW/ - Demand for high-grade lithium used in rechargeable batteries could soar by as much as 150 per cent over the next six years if projections for electric vehicle sales are correct, says the CEO of Canada Lithium Corp.
A study by the Massachusetts Institute of Technology predicted 10 million electric vehicles will be sold globally by 2016. Demand for the low-emission vehicles will be propelled by government investments, rising gas prices and consumer demand for environmentally friendly products.
"That significant ramp-up in production means there's going to be a significant increase in demand," Peter Secker, president and CEO of Canada Lithium, said in an interview Monday.
"Current demand is about 100,000 tonnes of lithium carbonate a year, and
.