Where Tesla goes, lithium will follow. It’s obviously not as simple as that but there is an inevitability in demand for the metals used to make electric-powered vehicles following the success of EVs.
Interestingly, the connection between Tesla’s recent rocket-run on the stock market has not been replicated in the battery-metals sector, yet.
But as Tesla continues to prove that investors and car buyers are ready to embrace the shift from fossil fuels to electric power the current glut of metals such as lithium, cobalt, nickel and graphite, will fade.
Powering Past Toyota
Tesla’s double-barreled success with stronger than expected vehicle sales during the Covid-19 pandemic and a share price that has propelled it past Toyota to become the world’s most valuable car maker is restarting interest in downtrodden battery metals.
Citi, an investment bank, touched on the lithium reawakening story in a research report late last month and while not tipping an immediate revival for a metal which crashed two years ago it did say that lithium “is approaching a bottom.”
For the rest of this article: https://www.forbes.com/sites/timtreadgold/2020/07/06/tesla-powers-up-lithium-and-other-battery-metals-will-follow/#306bd6992d58