There is a race for lithium going on in Nevada

on July 28, 2016

CNBCEver since electric carmaker Tesla announced plans to build a battery plant outside Reno, Nevada, investors, fans of Elon Musk‘s company and others around the world have started paying attention to the silver state’s large lithium deposits.

Lithium is a key component in the production of batteries used in cell phones and electric vehicles. As sales of electric vehicles, which topped 500,000 worldwide last year, increase, so is demand for lithium.

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CNBCThere is a race for lithium going on in Nevada