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February 9, 2022
Not only do countries all over the world want millions of electric vehicles on the roads, the International Energy Agency (IEA) estimates we could see 135 million EVs in the next 10 years.
Even major auto companies are transitioning to electric.
General Motors just announced it will boost global spending on EVs to 435 billion through 2025.
Ford increased its spending to more than $30 billion by 2030.
Even better, analysts at Ernst & Young say that EV sales could outpace combustion engines in Europe, China, and the U.S. in the next 12 years. By 2045, they added, non-EV sales could make up less than 1% of the global auto market.
We’re talking about a potentially massive opportunity.
In addition, according to The New York Times:
“While electric vehicles still account for a small slice of the market — nearly 9 percent of the new cars sold last year worldwide were electric, up from 2.5 percent in 2019, according to the International Energy Agency — their rapid growth could make 2022 the year when the march of battery-powered cars became unstoppable, erasing any doubt that the internal combustion engine is lurching toward obsolescence.”
While we could always invest in electric vehicle stocks, like Tesla or Nio, another option is to invest in what’s critical to EVs – lithium. At the moment, lithium is seeing significant demand. Unfortunately, there’s also a massive shortage.
That’s great news for related stocks like Albemarle (ALB), which carries a dividend yield of 0.69%, Lithium Americas (LAC), and ETFs, such as the Global X Lithium & Battery Tech ETF (LIT).
With the supply-demand imbalance, the sky’s the limit for lithium stocks.
The Dow is up 190 points to 35,532
The S&P 500 is up about 32 points to 4,544.50
The NASDAQ is up about 138 points to 14,872
Gold prices up another $18.56 to $1,826.55
Bitcoin is down slightly to $43,523
Oil prices are down about 49 cents to $88.87
The VIX is down just over two points to 20.81
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