Chapter 1 introduces the central themes of the book by analyzing how the lithium boom in Chile offers a new opportunity for economic growth and green development in Latin America. The chapter discusses the potential for lithium to drive the global energy transition, with the mineral being a key component in developing renewable energy storage solutions. Despite these opportunities, Chile’s lithium policies face significant challenges, including socio-environmental conflicts and the influence of private business actors on public policy. The research question guiding this chapter asks how institutional factors and state–business relations explain the divergent trajectories of lithium policies in Latin America. Through a comparative analysis of lithium policies in Chile, Bolivia, and Argentina, this part examines the varying degrees of success and failure in value addition to lithium products, introducing the theoretical framework of state–business relations, highlighting the role of industrial policies in the green energy transition. It posits that understanding the dynamic processes between the state and businesses is crucial for explaining the evolution of lithium policies in the region. Finally, this chapter presents the case study methodology, comparing Chile’s lithium policy with those of Argentina and Bolivia, the other two countries of the “lithium triangle.“ By applying typological theory and process tracing, the study examines how different configurations of state and business relations produce distinct policy outcomes. In addition to an in-depth analysis of the Chilean case, shadow case strategies are used to compare lithium policies in Argentina and Bolivia.