From the mine to the electric car: Why lithium extraction in Ukraine is just the first step towards producing Tesla

May 30, 2023

European, American, and Asian companies are announcing deals and investments in the lithium market worth billions of US dollars almost every month. Whenever such news emerges, Ukraine is reminded that it also possesses huge lithium deposits and is seemingly destined for success in this domain, even to the extent of creating its own “Tesla.” According to most estimates, demand for lithium will continue to exceed supply for at least the next 5-10 years. It is during this time that dozens of new battery production factories will start operating in Europe, becoming major consumers of lithium materials.

Ukraine can seize this opportunity. However, despite the grand statements, the billions of dollars in Western investments are not flowing into our country just yet. “The reason lies not only in the full-scale war. To attract international investors, Ukrainian businesses need to independently address challenging issues and expand their capacities,” explains Denys Aloshyn, Director of Strategic Development at UkrLithiumMining LLC.

To find out what Ukrainian companies planning to extract and enrich lithium-bearing ores need to do to attract international investors, please read Denys Aloshyn’s column on the website of the Interfax-Ukraine news agency.

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