Las Vegas: Charging the World and Transforming Real Estate Through the Battery Industry

This dramatic increase in the use of lithium-ion batteries is why recent forecasts predict the global lithium-ion battery market will grow fivefold, from around $85 billion in 2022 to over $400 billion by 2030. The Las Vegas Global Economic Alliance (LVGEA) believes Southern Nevada is uniquely positioned to capture a significant portion of this expanding market.

While the adoption of EVs is indeed driving significant demand—expecting up to 30% of the nation’s vehicles to be electric within a decade—these batteries are powering more than just cars. From the cell phone in your pocket to the laptop you use for work and the appliances making your home comfortable, lithium-ion batteries are becoming ubiquitous in everyday life.

Las Vegas Advantage

Las Vegas’ proximity to Southern California’s ports offers a strategic advantage for companies sourcing metals for battery production. With 90% of the world’s lithium and many essential minerals like cobalt, nickel, and graphite produced overseas, this proximity is crucial. Manufacturers also benefit from having over 60 million customers and vendors within a two-day drive, including a growing number of lithium supply chain and component manufacturers.

Furthermore, California’s aggressive electrification standards for new car sales present a significant opportunity. By 2030, 68% of new cars sold in California must be hybrid or electric, increasing to 100% by 2035. Given California’s large population, this proximity to the nation’s largest lithium-ion battery market is a considerable advantage for Las Vegas-based battery manufacturers.

Strategic Location and Industry Integration

Las Vegas is centrally located among multiple developing lithium markets. Northern Nevada hosts the only operating lithium mine in North America, Silver Peak Mine, and construction is underway on Thacker Pass mine, home to the world’s largest single lithium deposit. Nevada encompasses all elements of the lithium industry, from mining to research and development, production, application, and recycling.

Additionally, Northern Nevada is home to the Tesla Gigafactory, Redwood Materials, and a growing number of companies within the lithium loop. To the south, Phoenix hosts companies like Rivian, Lucid, and Electra Meccanica. Both Arizona and California house large electronics and chip manufacturing facilities, making Las Vegas an ideal hub with lower operating and overhead costs.

Power Hub of the Future

Las Vegas has been home to battery manufacturers since the 1990s, with a growing integrated community. Companies like Lithion Battery, Ultion Technologies, and Rechargeable Power Energy North America are thriving in the region. Entek Manufacturing recently opened a new facility in Henderson, and Quantum Copper, founded by a UNLV chemistry professor and a local entrepreneur, is innovating with non-toxic fire-resistant polymers for lithium batteries.

The positive growth in Las Vegas extends beyond the battery industry, impacting various sectors and contributing to the city’s economic diversification. This growth fosters a favorable environment for real estate, attracting new businesses and residents. As industries like battery manufacturing expand, the demand for commercial and residential properties will rise, boosting the real estate market

Southern Nevada’s battery manufacturing industry is buzzing with innovation. As demand for EVs and lithium-ion-powered electronics continues to climb, Las Vegas is poised to electrify efforts to charge the world.The future is bright, and Las Vegas is ready to power it.