The world is now moving towards the use of electric vehicles. China has already made plans for this and has now started to increase the number of electric vehicles more than any other country. Countries including India have also embarked on projects to promote the production of electric vehicles and improve the infrastructure. In India, states including Tamil Nadu have formulated a separate policy for the production of electric vehicles and have started creating basic structures for it. But it can be said that India is 20 years behind compared to China.
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China’s plan
Because China has formulated a strategy for electric vehicles in the early 2000s and has started to travel towards that goal. For 20 years, the country has been building lithium mines and building infrastructure to properly extract lithium, predicting that lithium can be a substitute for petrol diesel. The result is that the country now owns more than 60 percent of the world’s lithium extraction infrastructure.
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China’s 2025 target
India is far behind compared to China. China has now gone beyond the country and embarked on infrastructure to set up lithium mines in African countries. The country’s target is 2025. Yes, by 2025, China plans to install lithium mining infrastructure in countries including Africa, which will then have a third of the world’s lithium extraction infrastructure.
That is, China will dominate the lithium market. World countries will take over from that country. Production from Chinese-controlled mines, including projects in Africa, is expected to rise to 705,000 tonnes by 2025 from 194,000 tonnes in 2022. This would raise China’s share of the mineral, important for electric-vehicle batteries, to 32% of global supply. China’s share was 24% last year.
Lithium competition
Competition for the production of lithium and other raw materials needed to make lithium-ion batteries, which are now seen as an alternative to gasoline and diesel, has increased among countries around the world. The competition between the US and China is increasing. But China is dominating the market. The countries of the world are also looking closely at the fact that China is secretly setting up mines in many places.
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