EV battery supply chain

Elektros Inc. (OTC: ELEK) announced a major lithium discovery in Sierra Leone, potentially among West Africa’s largest deposits, with grades exceeding initial estimates. CEO Shlomo Bleier called it “transformative,” aligning with surging EV battery demand forecasted to grow 42-fold by 2040. The find could diversify global lithium supply dominated by Australia, Chile, and China, easing EV production bottlenecks. Despite a 23% pre-market stock surge, challenges include 3-5 years of pre-production studies, Sierra Leone’s governance risks, and volatile lithium prices. Elektros plans AI-driven exploration to expedite development, mirroring Rio Tinto’s cost-reduction strategies. The project highlights West Africa’s role in ethical, geopolitically balanced supply chains.