The Lithium Market
Leading a new American energy revolution
Make no mistake: The market for electric vehicles is charging ahead, and fast. The global EV market was valued at $161.01 billion in 2020 and is projected to grow to $823.75 billion by the end of this decade. That’s going to require a lot of batteries – and a lot of lithium to produce them.
The Southeast has become a magnet for companies in the EV industry. In 2021 alone, there were $25 billion in announcements made related just to battery factories, and North Carolina is already emerging as a preferred location: Toyota will locate a $1.29 billion EV battery plant in Liberty, and EV firm Arrival will produce electric delivery vans at its microfactory in West Charlotte.
Clearly, this kind of activity will help re-energize U.S. manufacturing, improve opportunities for workers in every segment of the industry, and reduce our reliance on an increasingly aggressive China. And Gaston County is perfectly positioned to help lead this new American energy revolution.