This growth is from the very low base and 75,000 EV sold is still very small number, but we are getting there. China is the largest auto-market in the world and all major auto-makers have announced EV targeting this market in J/V with Chinese companies. Elon Musk is talking about Tesla Motors producing Electric Cars in China as well. Announced by China "War on Pollution" is moving forward with military determination. Security of supply for strategic commodities is addressed on the state level. International Lithium is very well positioned to benefit from this macro trend with its strategic partner Ganfeng Lithium - top lithium producer in China.
"We have very interesting report today from Bloomberg on Foxconn. It is all the same web: electric cars, China, Tesla and Apple. Will we see electric car for $15k produced by Foxconn in China after all? Today we get one step closer to this groundbreaking development for the mass market for electric cars.China moves very fast now to fight the air pollution and ignite the next industrial revolution. This collaboration with Tesla will allow it to acquire the latest technology in electric cars space. Lithium batteries and materials are already the very important foundation for this advance being built in China right now. Read more."
Europe is moving quickly into an electric vehicle early adoption stage with a record number of electric vehicle sales last year and a rapidly growing Tesla Supercharger network. With our important strategic partner Ganfeng Lithium, the Avalonia Lithium project aims to identify potential raw material supply for the rapidly growing Ganfeng Lithium business in Europe.
In Argentina, also with our key strategic partner Ganfeng Lithium, the Mariana Lithium Potash project is at the forefront of a developing mining alliance announced in Beijing last year between China and Argentina. I am particularly encouraged by the announcement by China in January of plans to invest $250 billion in Latin America this decade, which will spur further development of commodities in the region.
International Lithium continues to seek and develop security of supply opportunities using specialized experience developed by the Company and partners since its inception."
"Sales of electric vehicles in China increased 320 per cent last year, making the country the second largest electric car market in the world after the US.According to data released by the Ministry of Commerce and cited by China National Radio, sales of electric vehicles hit 75,000 in 2014.Even though the market expanded massively, it was not genuine growth due to an over reliance on government subsidies says Pang Yicheng, chief executive officer of D1EV, which offers information and trading services for new-energy vehicles.JAC Motors chairman An Jin said whilst the market was doing well with high-end consumers, it was not doing as well with ordinary consumers. Costs remained too high for there to be mass market appeal.Mr An said the market will only develop with the development of recharge stations, increased battery life and a rethink of the business model that is independent of government subsidies.China’s Ministry of Finance announced in mid-January it will reduce subsidies for “traditional” vehicles to help boost development and sales of renewable-energy cars. China Spectator."