Feb. 3 (Bloomberg) -- Bolivia holds as much as half of the world's lithium reserves, a key component in making hybrid or electric cars, the New York Times reported, citing Oji Baba, an executive with Japan's Mitsubishi Corp.'s base metals unit.

The country, presided over by the government of President Evo Morales, has a growing nationalist sentiment about the reserves, the newspaper said.

Bolivia has nationalized its oil and natural gas industries and the government is talking of controlling the lithium stores, according to the Times.

Several indigenous groups, such as those on the edge of Salar de Uyuni, the world's largest salt flat and the location of much of the minerial, suggest the country could become the ``Saudi Arabia of lithium,'' the newspaper said.

Last Updated: February 2, 2009 20:15 EST