20 November 2015
Following up on Avalon Rare Metals’ July 13, 2015 Industry Bulletin “Growing lithium demand creates new opportunities for Avalon’s Separation Rapids Project,” we are pleased to provide an update on the lithium market, where demand for lithium chemicals is growing and prices are rising.
Sales of electric vehicles (“EVs”) have increased significantly in 2015 due to a strong market in Europe and China. According to global market research firm TrendForce, the worldwide sales of EVs for the first three quarters of 2015 have increased 31% year on year to 330,000 units, with China accounting for the largest share, partly due to government support. This has had a positive effect on demand for lithium-ion batteries and in turn for lithium chemicals.