Lithium production in China has become cheaper due to technological breakthrough

The introduction of new technologies in the process of lithium mining in China has reduced the cost of production of this essential component of batteries for electric vehicles to 15,000 yuan per ton, which is a record low, the South China Morning Post writes with reference to the report of the Chinese government. The implementation of a research project funded by the Chinese Academy of Sciences led to the identification of a cost-effective way to separate lithium from other substances, including magnesium. Chinese companies, like American companies, have invested heavily in lithium mining projects in Chile, Australia and Argentina. According to data from the Bloomberg NEF, China currently controls about two-thirds of the world's lithium cells production capacity, while the United States accounts for only 13% of these capacities. Bloomberg NEF predicts an increase in China’s share of up to 73% of world capacity by 2021.

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