A BULAWAYO-BASED engineering firm has been urged to tap into the growing global demand for lithium batteries and contribute to the country’s economyic recovery.
Global demand for lithium batteries is expected to surge more than five-fold by 2030, as more nations opt for electric vehicles (EVs) and energy storage systems.
Demand for EVs has soared over the past few years, as climate-conscious consumers snap up cars with electric powertrains, amid soaring fuel prices.
Lithium batteries that will power a range of vehicles over the next few years are seen as essential to military systems and consumer, medical and industrial products.
Higher and Tertiary Education, Innovation, Science and Technology Development permanent secretary, Fanuel Tagwira, said VEET Engineering Company should take advantage of the global demand and make lithium batteries.
“We urge our fellow engineering company to explore and produce commercial lithium batteries as we have the mineral within our nation and this will improve our economy as we will be the first ones to produce such batteries,’’ Tagwira said.
He was speaking at the inaugural Research Sustainable Industrialisation and Economic Development indaba held on Wednesday at the Zimbabwe International Trade Fair (ZITF).
“Our engineers should work hard and at a faster pace to be the first ones to create commercial lithium batteries as this will make our market bigger hence making us able to attain more revenue leading to economic development for our country.”
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Research Council of Zimbabwe board chairperson, Elton Kamusoko, said the organisation was ready to fund universities in research towards making batteries and the materials required for industrialisation.
“Our aim as an organisation is to attain industrial growth within our nation hence the reason we have been funding our universities for their projects as this helps to improve our economy,’’ he said.
Zimbabwe has the world’s fifth-largest reserves of lithium — which is an essential component of the rechargeable batteries used in mobile phones and electric vehicles.
China, which is the leading consumer of lithium given its role in the manufacturing of lithium-ion batteries, has taken the lead in the scramble for the light metal in Zimbabwe.
