/C O R R E C T I O N from Source -- The Oregon Group/

Rhea-AI Summary

The Oregon Group predicts 20 years of rapid growth in lithium demand, driven by electric vehicles. The report highlights significant price corrections in 2023, stalling new lithium projects and limiting supply expansion. Established lithium producers like Albemarle (NYSE: ALB) and Pilbara Minerals (ASX: PLS) will benefit from the higher priced market, along with ETFs linked to the price of lithium. Developing plays in Zimbabwe with Premier African Minerals (AIM: PREM) and Li3 Lithium Corp (TSX.V: LiLi) are also well positioned. Lithium has already become the new gasoline for 15.5% of new cars sold globally in H1 2023, according to BloombergNEF, and will continue to dominate the market despite new battery technology.

In the news release, The Oregon Group Predicts Lithium Demand set for 20 years of Rapid Growth, issued 17-Jan-2024 by The Oregon Group over PR Newswire, we are advised by the company that the first paragraph paragraph, frist sentence, should read "The demand for lithium" rather than "The supply of lithium" as originally issued inadvertently. The complete, corrected release follows:

The Oregon Group Predicts Lithium Demand set for 20 years of Rapid Growth

TORONTO, Jan. 17, 2024 /PRNewswire/ - The demand for lithium, essential for electric vehicles, is expected to face twenty years of rapid growth, according to a new report. The Oregon Group forecasts lithium's dominant demand segment — electric batteries and vehicles (EVs) — is also it's fastest growing, a dynamic rarely encountered even in bull markets.

Lithium's dominant demand segment — electric batteries and vehicles — is also it's fastest growing.

The report examines how the lithium market has seen a significant price correction in 2023, stalling new lithium projects and limiting supply expansion needed to meet the expected increase in demand for the next generation of EVs. Price volatility is also compounded by global geopolitical tensions, local community environmental concerns, as well as government permitting issues.

Established lithium producers face a unique set of challenges that offers an opportunity for exciting investment entry points, particularly, in Africa.

This growth will benefit a number of players in the lithium market. Existing producers such as Albemarle (NYSE:ALB) and Pilbara Minerals (ASX: PLS), as well as ETFs closely linked to the price of lithium, such as Horizons Global Lithium Producers Index ETF (TSE:HLIT), will see their value increase in a higher priced market. Developing plays, for example in Zimbabwe, with Premier African Minerals (AIM:PREM) and Li3 Lithium Corp (TSX.V:LiLi) are also well positioned.

Fulfilling a prediction made by Goldman Sachs in 2015, lithium has already become the new gasoline for 15.5% of new cars sold globally in H1 2023, according to BloombergNEF, because of it's higher energy density, lighter weight, longer charge retention and an absence of charge memory. And, despite new research on next generation electric battery technology, the reality is that lithium ion will continue to be the dominant technology for many years.

To learn more about the lithium market, key trends, and players, you can access The Oregon Group's new report, entitled "Inside the Accelerating Global Race for Lithium" by visiting our dedicated website section for the lithium market report.

About The Oregon Group

The Oregon Group is an investment research company founded by independent capital markets experts, Anthony Milewski and Justin Cochrane. The company is focused on a variety of key investment trends related to commodities and energy transition.

For more information, please visit theoregongroup.com

View original content:https://www.prnewswire.com/news-releases/the-oregon-group-predicts-lithium-demand-set-for-20-years-of-rapid-growth-302037199.html

SOURCE The Oregon Group

FAQ

What is the prediction made by Goldman Sachs in 2015 about lithium?

Goldman Sachs predicted that lithium will become the new gasoline for 15.5% of new cars sold globally.

Which companies are expected to benefit from the higher priced lithium market?

Established producers like Albemarle (NYSE: ALB) and Pilbara Minerals (ASX: PLS), as well as ETFs linked to the price of lithium, such as Horizons Global Lithium Producers Index ETF (TSE: HLIT) are expected to benefit.

What are the key factors contributing to the rapid growth in lithium demand?

The rapid growth in lithium demand is driven by electric vehicles, significant price corrections in 2023, and the dominance of lithium ion technology despite new battery technology research.