The country holding the world’s largest reserves of lithium says it’s one step closer to becoming a manufacturing hub for rechargeable batteries used in electric vehicles.
Chile is hopeful that battery makers such as Samsung and Posco will start installing lithium processing plants in the country by the end of the year, according to Sebastian Sichel, executive VP of government development agency Corfo. The agency recently reached a deal with top lithium miner Albemarle that will give battery makers access to cheaper lithium.