Lithium
editLithium-ion batteries are used in wind turbines, solar panels, and electric vehicles, all of which are crucial in a green economy..A World Bank study suggests that the demand for critical metals such as lithium (Li) and cobalt is expected to rise by nearly 500% by 2050. While “the global electric vehicle market is projected to reach $823.75 billion by 2030, registering a Compounded Annual Growth Rate (CAGR) of 18.2% from 2021 to 2030,” India’s market is projected to register a CAGR of 23.76% by 2028. India is seeking to secure its critical mineral supplies and build self-sufficiency in this sector.