Lithium makers hit gold with global push for e-vehicles

Indian e-vehicle market is at a nascent stage and every year only about 2,000 electric vehicles are sold in a market of three million units

Lithium has suddenly become a favourite commodity among global investors, thanks to the rush towards electric vehicles the world over. The price of lithium, a metal used to make lithium-ion batteries, is on a surge (increasing threefold to about $20,000 per tonne since mid-2015). The push for e-vehicles has also doubled stock prices of leading lithium producers in the past year. Analysts are giving ‘Buy’ calls on these stocks.

Global lithium production was 32,500 tonnes in 2016 and is expected to expand to 300,000 tonnes by 2020, as mining companies have shown intent to add 20 lithium manufacturing sites to the