NEW YORK, April 25, 2018 /PRNewswire/ --

According to data provided by Mordor Intelligence, the global lithium market is expected to grow at a CAGR of 9.33% from 2018 to 2033. The market is expected to see significant growth due to the rising demands for lithium ion batteries. These rechargeable batteries are heavily used in portable electronic devices and the upcoming surge of electric vehicles (EVs). Lithium-ion batteries comprise of a family of battery chemistries, which combine a variety of anode and cathode combinations, to offer distinctive performance, cost, and other parameters. The growing adoption of EVs is driven by the rising concerns for the environment, as these vehicles help reduce carbon emission levels. MGX Minerals Inc. (OTC:MGXMF), Lithium Americas Corp. (NYSE:LAC), Tesla, Inc. (NASDAQ:TSLA), Ford Motor Company (NYSE:F), FMC Corporation (NYSE:FMC)

Electric vehicles are expected to drive the lithium market because of their environmentally efficiency. Many countries are shifting towards transitioning from diesel powered to electric powered vehicles. Other countries have begun to implement regulations and deadlines to increase deployment. "Lithium is coming of age in a big way. It's the core ingredient to 99 percent of electric vehicles and as a result, demand is going through the roof," Simon Moores, managing director at research at Benchmark Mineral Intelligence, told CNBC in a phone interview.

MGX Minerals Inc. (OTC:MGXMF) also listed on the Canadian Securities Exchange under the Ticker (CSE:XMG). Earlier this week the company provided, "an update on the Company's Paradox Basin Petrolithium Project (the "Project"). The Project includes the 80,380-acre Blueberry Unit, a recently unitized Federal Oil and Gas Unit created as part of the Project.

After approximately two months of fieldwork, crews have completed Paleontology Surveying and are nearing completion of the Archeological Survey. To date, all locations have been surveyed out with a total of 163 new sites located along with 12 sites that need redocumenting. Documentation recording for the survey will begin this week and take approximately one week to complete. Pending Bureau of Land Management approval, a Seismic Survey at the Paradox Project is scheduled to commence in early August.

The 110,000 acre Paradox Project represents the first large-scale integrated petroleum and lithium exploration project in the United States and is located proximate to the Lisbon Valley oilfield within the Paradox Basin, which has shown historical brine content as high as 730 ppm lithium (Superior Oil 88-21P).

The Project is being simultaneously explored for oil, gas, lithium and other brine minerals as part of the Company's North and South American exploration, testing and analyses strategy to determine locations for deployment of the Company's lithium and mineral extraction technology inclusive of Petrolithium, geothermal, and other lithium brine feedstock sources. MGX controls over two million acres of lithium mineral claims throughout North America.

MGX is currently earning a 75% working interest in the Project, with the remaining interest primarily controlled by a private Utah corporation (the "Paradox Partner"). The Paradox Partner has been engaged by MGX as subcontracted operator of the Project. The Project is host to National Instrument (N.I) 51-101 estimated prospective resources (the "Estimate") consisting of leasehold and royalty interests in San Juan County, Utah and Miguel County. Colorado. The estimate was prepared by the Ryder Scott Company, L.P. ("Ryder Scott"), an independent qualified reserves evaluator within the meaning of N.I. 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101"), with an effective date of June 30, 2017. The Estimate was prepared in accordance with N.I. 51-101 and the Canadian Oil and Gas Evaluation."

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. Earlier this month, the company provided an updated mineral resource estimate on the Thacker Pass deposit of the Lithium Nevada Project located in the McDermitt Caldera, Nevada, USA. The Resource Estimate was prepared pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). At a cut-off of 2,000 parts per million lithium ("ppm Li"), the updated Resource Estimate consists of a Measured and Indicated Resource of 385 million tonnes grading 2,917 ppm Li for 6.0 million tonnes of lithium carbonate equivalent ("LCE") and an Inferred Resource of 147 million tonnes grading 2,932 ppm Li for 2.3 million tonnes of LCE. The updated Resource Estimate will be incorporated into a Preliminary Feasibility Study on the Lithium Nevada Project with results on track to be released by the end of Q2 2018. For more information on the Lithium Nevada Project and team, please refer to the press release dated October 23, 2017.

Tesla, Inc. (NASDAQ:TSLA) mission is to accelerate the world's transition to sustainable energy. Since our founding in 2003, Tesla has broken new barriers in developing high-performance automobiles. In addition, with the opening of the Gigafactory and the acquisition of SolarCity, Tesla now offers a full suite of energy products that incorporates solar, storage, and grid services. As the world's only fully integrated sustainable energy company, Tesla is at the vanguard of the world's inevitable shift towards a sustainable energy platform. According to a blog by the Tesla Team, Tesla and Panasonic begin mass production of lithium-ion battery cells, which will be used in Tesla's energy storage products and Model 3 at the Gigafactory in the beginning of 2017. Model 3 cell production will follow in Q2 and by 2018, the Gigafactory will produce 35 GWh/year of lithium-ion battery cells, nearly as much as the rest of the entire world's battery production combined.

Ford Motor Company (NYSE:F) is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification, autonomous vehicles and mobility solutions. On March 22, 2018, the company and Mahindra Group announced that they will jointly develop new SUVs, and a small electric vehicle as part of several initiatives announced today between the two companies. Under the initiatives, Mahindra and Ford will leverage their strengths in the utility vehicle space to co-develop a midsize sports utility vehicle (C-SUV). Built on the Mahindra platform, the new SUV will drive engineering and commercial efficiencies and will be sold independently by both companies as separate brands. Mahindra and Ford also agreed to evaluate co-development of a compact SUV and electric vehicle, along with sharing powertrain portfolios, including the supply of Mahindra powertrains to extend Ford's product range.

FMC Corporation (NYSE:FMC) has served the global agricultural, industrial and consumer markets with innovative solutions, applications and quality products. The company employs approximately 7,000 people throughout the world and operates its businesses in two segments: FMC Agricultural Solutions and FMC Lithium. In March, the company announced that Paul Graves, executive vice president and chief financial officer, has been appointed chief executive officer for the previously announced new, publicly traded lithium materials company, which will be created by separating FMC's lithium business in the second half of 2018. Gilberto Antoniazzi, CFO for FMC Agricultural Solutions, has been appointed CFO for the new lithium materials company.

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