I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Like any mining share focused on a narrow portfolio of assets, whether UK lithium stocks or old school miners, there is plenty of risk. We don’t know yet whether production will turn out to be viable and cost effective. The lithium price could increase as the number of electric vehicles increases, leading demand for batteries. But that could also lead to a glut of lithium projects, leading to the price crashing. While Sonora is the main asset, Bacanora does have a minority holding in some other lithium projects in Europe.Strategic investorsBacanora isn’t working on its own. The Sonora project is half owned by a Chinese company called Ganfeng Lithium. Ganfeng is a leading lithium company with a wide portfolio of assets. Not only does it own half the Sonora project, it also is the biggest shareholder in Bacanora, with a stake of just over 25%.Ganfeng has an offtake agreement for the Sonora output once it starts producing. Its active involvement in the project could be a sign that this large lithium company sees real potential in Bacanora. One of the challenges for the Sonora mine to begin commercial production is securing the funds for the project. It was announced this week that Ganfeng has invested another £21.8m in Bacanora, as a result of increasing its stake in the companies’ joint venture at Sonora.Commercial production is likely two years away at least. No one knows what the lithium market will look like then. However, Bacanora offers exposure to a promising large-scale lithium mine. It’s certainly a share that comes with risks, which mean I won’t be buying for now. But I’ll be keeping an eye on Bacanora and watching for any positive updates on the Sonora development. christopherruane has no position in any of the shares mentioned. The Motley Fool UK owns shares of and has recommended Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. See all posts by Christopher Ruane Christopher Ruane | Friday, 5th February, 2021 | More on: BCN “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Image source: Tesla UK lithium stocks: 1 I’m watching Our 6 ‘Best Buys Now’ Shares With excitement over electric vehicle shares like Tesla increasing in recent years, attention has recently turned to battery manufacturers. Who will produce the electric batteries for such vehicles? Will these companies be able to profit from explosive demand growth, or will high research costs swamp the chance of turning a profit?Lithium is a key component of such batteries. A number of UK lithium stocks have seen wild price swings in recent months as investors try to get a piece of possible future growth. This has been a market with dramatic swings, so personally I wouldn’t invest in any UK lithium stocks without investigating them in more detail and learning more about them. One of the UK lithium stocks in the spotlight right now is Bacanora (LSE: BCN).5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Bacanora: a mining play among UK lithium stocksBacanora offers exposure to future lithium demand through its investment in a large-scale lithium mining project. Called the Sonora project, after its location in Mexico, the mine complex contains a number of drill sites. The company has been working for some years to identify the feasibility and attractiveness of the site.As is normal with speculative mining developments, it takes time to assess exactly what minerals the mine has, how easy they are to extract and what the project economics would be. Sonora is quite remote, with roads needing to be put in to facilitate even this exploratory work. So things have not moved fast. However, the company has repeatedly said that it targets a 2023 start to production at the site. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. 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