Formula E is getting its fans very fast now and getting popular more and more. This is the best way to demonstrate the ability of Lithium technology and show that electric cars are not toys any more. Like with Formula 1 a lot of new devices and auto-technology were tested on the racing circuits and only after that made its ways into our cars. Formula E provides the same field testing experience for electric cars and Lithium technology in the most changeling conditions.
Europe is moving quickly into an electric vehicle early adoption stage with a record number of electric vehicle sales last year and a rapidly growing Tesla Supercharger network. With our important strategic partner Ganfeng Lithium, the Avalonia Lithium project aims to identify potential raw material supply for the rapidly growing Ganfeng Lithium business in Europe.
In Argentina, also with our key strategic partner Ganfeng Lithium, the Mariana Lithium Potash project is at the forefront of a developing mining alliance announced in Beijing last year between China and Argentina. I am particularly encouraged by the announcement by China in January of plans to invest $250 billion in Latin America this decade, which will spur further development of commodities in the region.
International Lithium continues to seek and develop security of supply opportunities using specialized experience developed by the Company and partners since its inception."