Major Lithium Plant Lands in Brazil, Fast-Tracking Production
The lithium-ion battery market experienced significant expansion, driven by the rising adoption of electric vehicles (EVs) and growing demand for consumer electronics. According to a March 11th Maximize Market Research report, the market was valued at US$56.12 billion in 2023 and was projected to grow at a compound annual growth rate (CAGR) of 18.25%, reaching approximately US$181.45 billion by 2030. Asia-Pacific remained a dominant region due to strong manufacturing capabilities and favorable government policies promoting EV adoption. Companies such as CATL, LG Energy Solution, and Panasonic continued to lead the market, while countries like Vietnam and Singapore positioned themselves as emerging hubs for lithium-ion battery production. In the United States, increased investment in battery manufacturing reflected the industry’s rapid evolution, with agreements such as Powin’s multi-year deal for 10 GWh of lithium iron phosphate (LFP) battery cells. Meanwhile, European firms focused on strategic collaborations, including a joint venture between CATL and Stellantis for a €4.1 billion EV battery factory in Spain. Despite international regulatory challenges, China’s stronghold on lithium-ion battery production persisted, underscoring the sector’s critical role in global energy storage solutions.
Source: https://www.streetwisereports.com/article/2025/03/17/major-lithium-plant-lands-in-brazil-fast-tracking-production.html
