Major lithium reserves discovered in Sichuan

Nearly 1 million metric tons of lithium reserves were recently discovered in Sichuan province, becoming the largest known pegmatite-type lithium mine in Asia, which experts said will reduce China's reliance on lithium imports and ensure stable supplies for the fast-growing electric vehicle and new energy sectors.

Despite the new discovery, China still faces a gap between untapped resources and surging demand for lithium batteries. Thus, securing raw materials is now a focus for businesses along the EV industry chain, with some choosing to venture abroad, they said.

Lithium is a key metal used in battery production for the EV industry, as well as power storage facilities used in the wind and solar power sectors.