Top Manager of “UkrLithiumMining” visits Battery Gigafactories USA Conference in Washington – key insights on the lithium industry

“Companies that are serious about being players in the lithium business need to be aware of all the major trends. Only direct communication with key policymakers allows us to stay at the forefront of crucial issues,” says Aloshyn.

The top manager of UkrLithiumMining highlights the following global trends:

• Consolidation of players who integrate all stages of lithium production in their business, from extraction to battery component manufacturing.
• Construction of an increasing number of battery gigafactories. According to Benchmark Mineral Intelligence, there are already 384 such projects worldwide, either existing or announced.
• The initial effects of the Inflation Reduction Act (IRA), which incentivizes the transition to renewable energy sources in the United States. The American population and automakers are increasingly choosing electric vehicles.
• Political statements emphasizing the need to establish production and supply chains independent of Chinese raw materials, technologies, and capital due to China’s global dominance in battery production and electric vehicle technologies. These statements currently raise skepticism but must be considered in strategic planning.

“Being aware of the major global trends enables UkrLithiumMining to adjust its strategic and tactical plans in a timely manner and incorporate innovative ideas when preparing project documentation to attract potential strategic investors,” asserts Aloshyn.