New site signals a potential 30 million ton addition to China's lithium resources, increasing global share from 6 to 16.5 percent.

China has significantly increased its lithium reserves, positioning itself as the world’s second-largest holder of the critical metal for electric vehicle (EV) batteries and renewable energy technology.

One cache, found along the borders of Nevada and Oregon, potentially holds as much as 40 million metric tons of lithium, while Chinese state media said reserves had been found that upped its share of global lithium supplies from 6% to 16.5%, although details were scant.

Recent finds, including a massive deposit in Tibet, will help meet demand for metal, which is key for EV batteries and other technologies.