#China is winning #ElectricCars ‘arms race’
#China is the top market for electric and hybrid cars, accounting for roughly half of global sales, and the government is pushing the development of the industry within its borders. That calls for a lot of #Lithium, a key component of the vehicles’ batteries.
The #Chinese government has been quietly instructing state-owned enterprises to hunt down lithium resources outside China, according to Francois Perrin, a portfolio manager at investment firm East Capital. He predicts that over the next few years, China will wield increasing influence over the supply of lithium and other metals used in electric batteries.