Investors are speculating on the lithium market, causing the price of battery-grade lithium carbonate to drop by 77% in China. This follows the narrative of a lithium shortage, which led to an increase in production and ultimately a glut in the market. Despite this, a startup called Stardust Power plans to go public and build its first lithium refinery in Oklahoma, anticipating high demand for battery-grade lithium in the EV industry. The US also has potential as a major lithium producer, with large deposits found in Nevada and plans for production by Exxon Mobil and other companies. Australia, Chile, and China currently dominate global production.
https://wolfstreet.com/2023/11/23/lithium-shortage-bubble-implodes-once-again-as-demand-and-production-both-surged/