China is already the top lithium materials producer and now LG Chem will put it solidly on the lithium battery map. LG Chem plans are very ambitious - company plans to produce 100k batteries per year! Tesla Gigafactory rightfully attracts a lot of attention and LG Chem move will find its investment audience as well. All this production of batteries will need the secure supply of lithium.
International Lithium is positioned to participate in this huge market opportunity in China as part of the vertically integrated lithium business with our strategic partner Ganfeng Lithium.
International Lithium: Kirill Klip - Q And A From ILC On Our Strategic Partnership With Ganfeng Lithium.
I would like to present to your attention our Avalonia Lithium project in Ireland today. Now we are back on the ground advancing this J/V with Ganfeng Lithium - one of the top world-wide lithium producers from China.
Recent world-wide public awareness about the climate change and lithium technology advance demonstrated by Tesla Motors, present to us the unique opportunity to capitalise on this trends advancing the development of lithium supply chain. The largest world auto-market is based now in China. The Chinese Premier has announced the war on pollution and electric cars are at the forefront of this development. Our strategic partnership with Ganfeng Lithium opens the doors for our company to participate in these global development in electrification of our transportation.
"Mr. Kirill Klip, President, International Lithium Corp. comments, "We are excited to spearhead this international collaboration and program that sets a precedent for sourcing metals that are imperative to the advancement of mobile devices, electric vehicles and alternative energy. The demand for Lithium is continually on the rise and there are shortage concerns which could impede on the growth of the green technology sector worldwide. The Irish government has taken this risk very seriously and pledged to facilitate the advancement of lithium production as part of an initiative to improve strategic metal supply chains. Together with Ganfeng Lithium, ILC has the opportunity to be part of this development and we are optimistic that we have a new potential source for the lithium battery supply chain".
Mr. Wang Xiaoshen, Vice Chairman/ VP, Ganfeng Lithium Corp. notes, "Recent news that corporations such as Tesla and Panasonic are making significant commitments to build gigafactory battery plants will significantly impact the demand for Lithium. Similarly the Chinese market will become increasingly more important to companies like Tesla in the near future. These two reasons make BLL an ideal prospect for the lithium industry."
International Lithium Corp. Begins Reconnaissance Program and Renames Blackstairs Lithium Project, Ireland.
Yonhap News Agency:
SEOUL, Oct. 30 (Yonhap) -- LG Chem Ltd., South Korea's largest chemicals company, said Thursday it has begun construction of an electric-powered vehicle (EV) battery factory in China with the aim of starting commercial production in 2016.Once completed in the eastern city of Nanjin at the end of next year as planned, the plant will have the production capacity to power 100,000 EVs, the company said in an e-mailed statement.In order to conduct its project, LG Chem established a 50-50 joint venture in August, teaming up with two of China's state-run investment companies.LG Chem has been seeking to expand its EV battery business in China, eyeing growing demand on the back of Beijing's plans to tackle air pollution by introducing more eco-friendly cars."The Chinese electric car market is expected to become the world's biggest electric car market, achieving fast growth starting in 2016," said Kwon Young-soo, LG Chem's battery division director.Global carmakers have been rushing to introduce emission-free cars in the world's largest car market as Beijing earlier announced it will have 500,000 electric-propelled vehicles on the road by 2015 and 5 million by 2020.The global battery market for EVs is expected to grow to US$18.24 billion in 2020, more than fivefold the $3.26 billion it was in 2013, LG Chem said, quoting data by global market researcher B3. Source."