With demand for lithium-ion batteries expected to rise in the coming years, Lithium Investing News asked five juniors what their plans are moving forward.
Lithium Investing News spoke with five junior lithium companies for insight into Tesla's gigafactory plans.
Tesla Motors is looking to build a lithium-ion battery Gigafactory.
Well-known diversified chemical company FMC has announced plans to split into two independent public companies: "NewFMC" and "FMC Minerals."
Pilbara Minerals Ltd. (ASX:PLS) announced that it has signed a non-binding Heads of Agreement to buy five tenements at Pilgangoora that together make up the Pilgangoora tantalum-lithium project.
Li3 Energy Inc.'s (OTCBB: LIEG) Maricunga project has been selected independently by signumBOX as the fourth-best undeveloped lithium project in the world out of the 37 other brine projects.
Lithium Americas Corp. (TSX:LAC) has received gross proceeds of approximately $18.55 million before expenses as a result of the successful closing of its over-subscribed rights offering through the issuance of 77,308,481 common shares at a subscription price of C$0.24 per common share.
Bacanora Minerals Ltd. (TSXV:BCN) announced that it has signed a definitive joint venture agreement with Rare Earth Minerals plc (LSE:REM) regarding the San Gabriel, Buenavista and Megalit concessions. It will supercede a previous memorandum of understanding between the companies.
Green Car Reports reported that Tesla Motors CEO Elon Musk is faced with new doubts over his plans for a gigafactory, however this time, the skepticism comes from Tesla's lithium-ion cell supplier, Panasonic.
Global Post reported that the European Union has chosen Hyundai Moto Co, the top carmaker in South Korea, as its supplier of fuel cell electric cars.
Bloomberg reported that according to Liz Jarvis-Shean, a spokesperson for Tesla Motors Inc. (NASDAQ:TSLA), the company plans to only use raw materials sourced from North American for its proposed $5-billion lithium-ion battery gigafactory.
Businessweek reported that Panasonic Corp. (TSE:6752) has plans to increase its sales by roughly 34 percent during the next five years on the expansion of its lithium-ion battery business.