If there has been one sector that has been grabbing a lot of attention so far in 2021, it is lithium. After surviving a treacherous couple of years with low prices for the battery focused commodity, these lithium shares are now flourishing.
Electric vehicle demand lifting lithium shares
The growth story stems from an undeniable boom in electric vehicles (EV), with beneficiaries being the likes of Tesla Inc (NASDAQ: TSLA), Nio Inc (NYSE: NIO), and Xpeng Inc (NYSE: XPEV). As governments and regulatory bodies step up measures to reduce emissions, EVs are gaining traction.
The explosion in demand is shown by the International Energy Agency report in 2020. Reportedly, EVs on our roads have gone from 17,000 to 7.2 million in the space of…