Electric vehicles are in demand for lithium

Electric vehicles are in demand for lithium

The auto industry will need more materials from companies that mine lithium, because electric cars are in demand. In China, the Institute For Energy Research said the prices of lithium carbonate haven't changed compared to a year ago. The high costs will eventually be passed on to car makers.

As more electric vehicles EVs are produced, the demand for lithium will increase as it is one of the main components of EV batteries.

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There are two dividend stocks that benefit from the rise in demand for lithium: