Electric vehicles are selling well. And auto makers are planning to make a lot more of them in coming years –poring billions of dollars into product development, manufacturing capacity and battery plants. Those trends mean more lithium for making batteries powering all the EVs — a lot more.
Friday, lithium miner Albemarle (ticker: ALB) hosted an investor event and outlined expected growth in its lithium division over the coming five years. Albemarle expects sales to grow at 24% to 28% a year on average between 2021 and 2026.