Recent investments into battery production announced in the last few months are great news for America’s growing electric vehicle industry.
Ford is constructing three battery plants as well as a new EV factory. Stellantis, formerly Fiat Chrysler, has recently announced US battery plants and partnerships. Additionally, GM has two battery plants under construction and plans for more.
This massive investment in US battery plants is encouraging news. The Big 3 US auto manufacturers making significant EV investments sends a clear signal that they believe in the future of electrifying America’s vehicle fleet.
These investments also demonstrate a desire to grow a domestic EV supply chain. This means US jobs in vehicle and battery assembly facilities, but also at the front end of the chain, like exploration and production of lithium and other raw materials needed to make the batteries that power EVs.
A strong and stable US supply chain starts with a lithium source, and our Smackover prospect is a prime example. Our prospect is domestic which means reduced cost and carbon footprint, without the risk of global transportation bottlenecks. Because it’s a closed-loop brine prospect, it also allows for the extraction of the lithium with a minimal environmental footprint.
As Ford, GM and Stellantis, along with other automakers like Toyota and BMW, continue to expand into the EV space, I predict we’ll see increased innovation and investments that will drive the need for US lithium even higher.