Moneycontrol News
Tata Chemicals Ltd is evaluating business opportunities related to exploration and import of lithium from Bolivia to India, according to a report in Mint.
Senior executives from the company met government officials from Bolivia, sources told the paper.
The opportunity is expected to benefit Tata Chemicals because domestic and global demand for lithium will rise in the coming years.
The company's push for lithium exploration and import is motivated by the fact that lithium is a core commodity in batteries of electric vehicles (EVs).
Scarcity of lithium is an obstacle to adopting electric mobility in India, the report said.
Lithium is also used in mobile phone batteries and solar panels.
South American countries Argentina, Bolivia, and Chile form the world's "lithium triangle" as they have rich deposits of the mineral.
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