Why is Iran launching a lithium battery plant in March?

The defense ministry launched Iran's largest plant for production of lithium battery packs in March to increase production capacity by 35% and to remove any need for imports of the product. Iran’s capacity for production of lithium batteries is expanding to help its electrification drive.

Can Iran make lithium batteries for electric vehicles?

Reza Shojaei, who serves as a deputy head at the Iranian defense ministry’s department for energy resources, said on Tuesday that Iran has the technology needed to design and manufacture lithium batteries that are used in electric vehicles.

How much lithium does Iran have?

With global lithium reserves estimated at 89 million tons, Iran may now possess almost one tenth of the world’s lithium supply. Lithium prices have skyrocketed in recent years, thanks partly to increased demand for electric vehicle batteries containing the element.

Will Iran be the first entrant to lithium?

As the Middle East’s first entrant into lithium, all eyes will be on Iran. Finding lithium in the region indicates that the middle east mining sector may become a new and key player supplying battery metals and critical minerals contributing to the global battery and electric mobility ecosystem.

Does Iran hold the second-largest lithium reserve in the world?

Should the 8.5 million-ton estimate be accurate, it may mean that Iran now holds the second-largest lithium reserve in the world. It will be the largest deposit outside of South America, second only to a 9.2-million-ton deposit in Chile.

Which country produces the most lithium ion batteries in the world?

China is the largest consumer of lithium due to electronics manufacturing and EV industries, producing more than three-quarters of the world’s lithium-ion batteries and controlling most of the world’s lithium-processing facilities leading the global battery race.