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
