Where will the guts of your electric car’s battery pack come from? They could come from Bolivia, who has about half of the world’s lithium reserves. Seizing an economic opportunity, Bolivia’s president, Evo Morales says he’s ready to invest $200 million into mining the nation’s reserves.
He doesn’t want to go it alone, though, the AP reports. Any partner wanting to work with Morales should be warned: “The state doesn’t see ever losing sovereignty over the lithium,” Morales told reporters. “Whoever wants to invest in it should be assured that the state must have control of 60 per cent of the earnings.”
Morales doesn’t want investors to ride into town scoop up Bolivia’s lithium and blow away. He is demanding that factories be built in Bolivia to turn the raw good into batteries. He wants to establish an industry, not a layover.
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