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What VW Power Day Means for the Lithium Market

PUBLISHED

2021-03-18

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German auto manufacturer Volkswagen (VW) has announced overnight its plans to build six battery factories across Europe by 2023. ShareCafe’s Tim McGowen spoke with Steve Promnitz, CEO of ASX-listed lithium developer Lake Resources (ASX: LKE) about what this means for the lithium space.

 

Key points from the video:

 

• implications for lithium production going forward

• what this news means for current spot-pricing of lithium

• where companies such as VW will source the necessary materials for battery production in an ESG-friendly manner, given the absence of lithium producers in Europe

• how the lithium supply chain in the region will be created and supported