The global lithium market size was valued at USD 4.23 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 1.9% from 2020 to 2027.

Forecasts show demand for EVs surging within the next decade. Massive investments are being made to scale battery production and factories are being retooled to assemble hundreds of thousands of electric vehicles. But lithium mining projects are stagnating. Without enough upstream capacity, lithium shortages could increase prices or stall adoption. In this piece, we discuss this dynamic and what it may mean for lithium mining companies and EV adoption.

According to PVTIMES lithium mining is growing in Nevada. NW Tech Capital, Inc. (OTCMKTS: NWTT) Mining company located in Nevada.

Lithium is a critical mineral, identified as essential to the economic and national security of the United States, the supply chain of which is vulnerable to disruption. "A Federal Strategy to Ensure a Reliable Supply of Critical Minerals," released in June 2019, directs the U.S. Department of the Interior to locate domestic supplies of those minerals, ensure access to information necessary for the study and production of minerals and expedite permitting for minerals projects. https://bit.ly/34FV1Na

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