Focus on the future
Tesla is the number one manufacturer of electric cars, followed by the Chinese. Although Musk's electric car division is almost exclusively in the red, Tesla is worth more on the stock market than BMW and Daimler put together. What's the matter with you? Because investors are betting on the future, and thus on electromobility.
According to some, Germany may miss the boat to the future. According to a McKinsey study, European companies are responsible for only eight percent of research spending. The USA, on the other hand, accounted for 77 percent. There is often a lack of venture capital in Germany. It won't be long before the first affordable e-cars arrive. We'll start next year.
The Chinese also want to sell their U5, an electric SUV 2020, in Europe. It is expected to be launched on the Chinese market shortly. It already has the certifications for Europe. And the basic version is to cost only around 26,000 euros here. It's interesting that an Audi engineer is involved in the development.
In any case, electromobility cannot be stopped. In Norway, for example, electric vehicles accounted for 56 percent of new registrations in the first half of 2019, a worldwide record. Tax relief was the cause. With increasing electromobility, the demand for battery raw materials such as cobalt and lithium will increase.
Companies that possess the necessary raw materials should be able to face the future positively. These include First Cobalt and Millennial Lithium.
First Cobalt - https://www.commodity-tv.com/play/first-cobalt-and-glencore-conclude-term-sheet-for-refinery-restart/ - owns the Iron Creek Cobalt Project in Idaho. Recent drill results open up the potential for additional resources. The cobalt refinery, which also belongs to the company, occupies a unique position in North America. It's the only approved cobalt refinery there.
Millennial Lithium - https://www.commodity-tv.com/play/newsflash-99-with-millennial-lithium-aurania-resources-osisko-gold-royalties-auryn-resources-und-caledonia-mining/ - has just announced another milestone for its Pastos Grandes Lithium project in Argentina. The Argentine government has promised tax support for the project and the pilot plant is already in the construction phase.
Current corporate information and press releases from First Cobalt (https://www.resource-capital.ch/en/companies/first-cobalt-corp/) and Millennial Lithium ( https://www.resource-capital.ch/en/companies/millennial-lithium-corp/).
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