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Both the EV power battery industry and the energy storage industry have grown over 60% year-on-year in Q1, according to various statistics - but even a fourfold growth in demand could be acommodated by the existing production capacity of lithium, as the energy storage segment can respond to future raw material price hikes by adopting alternative chemistries like vanadium-flow and sodium-ion.
By Rethink ResearchBoth the EV power battery industry and the energy storage industry have grown over 60% year-on-year in Q1, according to various statistics - but even a fourfold growth in demand could be acommodated by the existing production capacity of lithium, as the energy storage segment can respond to future raw material price hikes by adopting alternative chemistries like vanadium-flow and sodium-ion.

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