Lithium-ion Battery Market Set to Grow as Production Costs Expected to Decrease

NEW YORK, April 3, 2018 /PRNewswire/ --

According to data compiled by Grand View Research, the global lithium ion battery market is expected to reach $93.1 billion by 2025 and growing at a CAGR of 17%. The increasing demand for durable rechargeable batteries is attributable to increasing usage of rechargeable electronic devices, grid storage systems and electric vehicles. Lithium ion batteries are an optimal solution for these products due to high energy density and high safety level. The report also indicates that technological advancements to reduce the weight of batteries, cost and increase their power output, is expected to augment industry expansion. In addition, competent distribution channels are likely to be an important way to gain a competitive advantage. Millennial Lithium Corp. (OTC: MLNLF), Panasonic Corporation (OTC: PCRFY), Toyota Motor Corporation (NYSE: TM), Lithium Americas Corp. (NYSE: LAC), General Motors Co. (NYSE: GM).

Although electronic devices control majority of the market value, EVs are set to pave the way with the rapid adoption of lithium ion batteries. The batteries are compact but the energy density allows for the vehicles to drive a further range than previous battery options. Gerard Reid, equity researcher and fund manager at Alexa Capital, explained, "Lithium is quite unique as a material in that it is very light with the lowest reduction potential of any chemical element which allows batteries based on lithium to have unbeatable performance. Lithium-ion batteries costs are likely to fall another 50% by 2020 to $100/kWh while at the same time energy density should increase by 20% which will help bring the range of the average electric vehicle (EV) towards 500km."

Millennial Lithium Corp. (OTCQB: MLNLF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: ML). Earlier today the company announced breaking news that the OTC Markets Group Inc. has qualified the Company to trade on the OTCQX Best Market. As of market open April 3, 2018, Millennial will begin trading on the OTCQX under the symbol "MLNLF" and will continue to trade on the Toronto Venture Exchange under the symbol "ML"

The OTCQX Best Market provides future and existing U.S based Millennial Lithium shareholders with simple and trustful trading of shares and convenient access to its new and current financial disclosures.

"Congratulations to Millennial Lithium Corp. on upgrading to the OTCQX Best Market," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "We are pleased to see Millennial Lithium Corp. utilize the OTCQB Venture Market to build their company's visibility and graduate to the OTCQX Best Market. We look forward to continuing to support the company and its investors in the U.S."

"Upgrading to the OTCQX Best Market will generate greater exposure and accessibility for Millennial's expanding US shareholder base. We look forward to working with the OTC Markets Group to further broaden the Company's exposure to US shareholders," said Millennial Lithium's President and CEO Farhad Abasov.

Panasonic Corporation (OTC: PCRFY) is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, and B2B businesses. Last month, the company announced that it has begun mass production of prismatic-type automotive lithium-ion batteries at its factory in Dalian, China, and held a ceremony to mark the first shipment. The market for eco-conscious vehicles, including hybrids, plug-in hybrids, and electric vehicles, is growing every year thanks to the increase in environmental awareness in recent years. To respond to the market demand, Panasonic has been gearing up to start production at this factory, which is its first production site for prismatic-type automotive lithium-ion batteries in China. Amidst expectations of expanding demand for automotive lithium-ion batteries, Panasonic manufactures the high-capacity and high-safety prismatic-type batteries at this factory and ships them to the North American and Chinese markets. Shipments will be expanded in the future to reach more destinations, helping to drive the spread of eco-conscious vehicles. With the beginning of mass production shipments of automobile lithium-ion batteries from this factory, Panasonic now has a production system covering Japan, the United States, and China, the three key global locations.

Toyota Motor Corporation (NYSE: TM) and Chubu Electric Power Co., Inc. in January announced that the two companies have concluded a basic agreement with the aim of commencing a verification project that entails construction of a large-capacity storage battery system (Storage Battery System) that reuses electrified vehicle batteries (batteries), as well as examination of the recycling of used batteries. Chubu Electric Power recognizes the importance of accurate management of fluctuations in its energy supply-demand balance caused by the recent large-scale introduction of renewable energy, and is promoting efforts toward further improving the operation of its electric power system. Toyota is actively promoting the use of electrified vehicles, as per "Toyota's Challenge to Promote Widespread Use of Electrified Vehicles" announced in December 2017, and is also pursuing the effective use of batteries and the development of social infrastructure that will support the widespread adoption of electrified vehicles.

Lithium Americas Corp. (NYSE: LAC), together with SQM, is developing the Cauchari-Olaroz lithium project, located in Jujuy, Argentina, through its 50% interest in Minera Exar. In addition, Lithium Americas owns 100% of the Lithium Nevada project (formerly Kings Valley project), and RheoMinerals Inc., a supplier of rheology modifiers for oil-based drilling fluids, coatings, and specialty chemicals. Recently, the company announced its financial and operating results for the year ended December 31, 2017. Development activities continue with the advancement of detailed engineering, camp construction, design and supplies purchases. Earth works, production, well-drilling and hydrological testing are underway. In its Lithium Nevada project, assembled an experienced technical team with backgrounds in exploration, permitting, mining, and lithium processing.

General Motors Co. (NYSE: GM), its subsidiaries and joint venture entities produce and sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang and Wuling brands. Last year, the company announced that it will introduce two new all-electric vehicles based off learnings from the Chevrolet Bolt EV in the next 18 months. They will be the first of at least 20 new all-electric vehicles that will launch by 2023. Given customers' various needs, getting to a zero emissions future will require more than just battery electric technology. It will require a two-pronged approach to electrification - battery electric and hydrogen fuel cell electric depending on the unique requirements.

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