The oil company YPF created the company YPF Litio S.A. through which it will venture into the development of the use of this mineral of high demand for the process of global electrification and for its industrialisation as a raw material for the batteries of electric vehicles and renewable energies. The head of YPF, Pablo González, presented the initiative as part of the need to "diversify the business horizon" of the company and "add an investment horizon for shareholders". According to Mr González, the initiative to create the new company had the agreement of President Alberto Fernández and the governors of the provinces with the largest lithium reserves in the country, Jujuy, Salta and Catamarca. YPF Lithium will thus have part of its mission focused on the extractive sector, but will also advance in the process of research and development of the various processes of industrialisation of the mineral, including the final stage of production of lithium batteries for the automotive and renewable energy industries. YPF also heads the hydrogen research and development consortium, an initiative known as H2ar, through which it has brought together large local companies to turn the country into a large-scale producer of hydrogen obtained from renewable energies. Argentina, along with Bolivia and Chile, belongs to the so-called Lithium Triangle, where around 67% of proven reserves and close to half of the global supply are concentrated.