Albemarle doesn’t expect Biden’s EV order to shift lithium demand

Chile’s Atacama salt flat, home to leading lithium producers Albemarle and SQM, accounts for around one-third the world’s supply. (Stock image)

Albemarle Corp said on Thursday that U.S. President Joe Biden’s executive order aiming for half of new vehicles sold by 2030 to be zero-emissions is already baked into automaker’s plans and thus should not markedly change lithium demand.

“Our view would be that’s neutral,” Chief Executive Kent Masters told investors on an earnings conference call. “It’s probably in the ballpark of what the car companies are already thinking.”

Lithium is used to make electric vehicle batteries.

(By Ernest Scheyder)

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