The lithium market could benefit from a Joe Biden victory, noted Albemarle Corp. CEO Kent Masters, as quoted by Bloomberg.
“There’s the incentives, and the emphasis that’s put on electrification and EVs around that. The market side of it would be more favorable with Biden.”
In addition, according to Goldman Sachs analyst, Mark Delaney, a Biden win could also boost further electric vehicle adoption, which could boost lithium demand even more.
Plus, with governments around the world pushing for a greener, EV future, lithium will be under heavy demand. Remember, California Gov. Gavin Newsom, for example just signed an executive order that will ban the sale of gas-powered passenger cars in the state starting in 2035.
In addition, analysts at Citi say the “lobal glut of the energy-storing metal will dissipate by the middle of next year as demand for electric vehicles (EVs) accelerates,” as noted by Forbes.