Continued Growth of Li-Ion Battery Market Has Subsequently Led to Continued Demand for Lithium

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PALM BEACH, Fla., Nov. 1, 2022 /PRNewswire/ -- The evolution of the automotive industry over the past few years, coupled with technological advances will have a massive impact on the EV market. EVs are designed to replace conventional travelling ways owing to advancement in technology, low carbon emission, low maintenance, smoother drive, convenience of charging at home, reduced engine sound, and high fuel economy. EVs help reduce air pollution in densely populated areas and GHG emissions. Rise in demand for high performance, low emission, and fuel efficient vehicles, coupled with strict government norms toward vehicle emission, shall aid in electric vehicle market growth. Batteries are crucial for hybrid electric vehicles (HEVs), all-electric vehicles (EVs), and plug-in hybrid electric vehicles (PHEVs). EVs using Li batteries could considerably reduce the emissions associated with road vehicle transport. Most of the manufacturers are integrating LIB in electric vehicles. Advances in batteries have created a huge demand for lithium hydroxide market, which is expected to witness highest CAGR during the coming years. A report from Fortune Business Insights projected that the global lithium market size is projected to reach USD 6.62 billion in 2028 at a CAGR of 8.1% during the 2021-2028 period. It said that the growth of the Li-Ion battery market has led to a rise in the product demand that will continue through the decade. Active mining stocks in the markets this week include: Lithium South Development Corporation (OTCQB: LISMF) (TSX-V: LIS), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), Livent Corporation (NYSE: LTHM), Standard Lithium Ltd. (NYSE: SLI) (TSXV: SLI), Piedmont Lithium (NASDAQ: PLL).

Fortune Business said: "Rapid advancements in the rechargeable batteries for laptops, mobile phones, electric vehicles, and digital cameras, driven by the growth in the Li-ion battery market globally shall fuel the product demand. Rising demand for batteries, lubricants, glass & ceramics, foundry and others is expected to foster the growth of the market. The growing adoption of hybrid and electric vehicles, high drain portable electronics, and energy storage systems has had a huge impact on the growth of the overall market. The rise in adoption of electrics vehicle is attributable to the growing concerns surrounding environmental pollution as EVs reduces carbon emission. Government in several countries across the world are implementing strict emission standards to reduce and control carbon emissions, thus augmenting the market growth. The market in North America is likely to rise at a considerable pace during the forecast period. The increasing adoption of cleaner energy sources due to stringent regulatory rules is surging the regional growth. The Environmental Protection Agency (EPA) has various schemes and funding programs that support the usage of green and sustainable source of energy like solar, wind, geothermal and others. The increasing adoption of solar panels has created a substantial demand for cells and batteries to store the energy."

Lithium South Development Corporation (OTCQB: LISMF) (TSX-V: LIS), BREAKING NEWS: Lithium South Development Corporation Reports Two Wells Return High Grade Lithium Results - Lithium South Development Corporation (the "Company") is pleased to provide results from the ongoing drill campaign at the Hombre Muerto North Lithium Project (HMN Li Project) in Salta Province, Argentina. The Company is reporting results from two completed wells. Two rigs are operating on site, and the program has been expanded to include an additional hole for a total of four core wells.