Lithium Americas Corp soars on California’s push toward electric vehicles

  • NYSE:LAC has stabilized around $15 after last week’s late surge. 
  • Lithium Americas Corp is benefiting from California’s drive toward electric cars. 
  • The firm’s sky-high predictions also boost the stock price.

California paves the way forward – whether for privacy regulations or for vehicles. The Golden State, which is the home of Silicon Valley, announced a ban on vehicles running on combustible engines by 2035. The goal is to push forward the usage of electric cars, which do not directly pollute the air.

EVs run on batteries, and the most significant component is lithium – and that is where Lithium Americas Corp comes into play. California Governor Gavin Newsom announced the ban on September 23, and that marks the low point for NYSE: LAC shares. 

Since then, it has been on the rise, accelerating its gains in recent days. 

Another positive factor boosting the firm is its own rosy predictions.

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California’s fossil fuel plants are dying of old age

Good morning. I’m Tony Barboza, and I’m filling in for Sammy Roth, who has been on vacation and will be back next week.

Living in Southern California, I spend a lot of time on the freeway behind the wheel of my Subaru Impreza — or at least I did before the pandemic. As I watch the miles tick upward on my odometer, I’ve also felt guilty about the pollution my white sedan is spewing into the air.

Now I’m thinking it could be the last gas-powered car I own.

That’s because of an executive order Gov. Gavin Newsom issued last week to require that all new passenger vehicles sold in California be zero-emission by 2035. The announcement came after a summer in which California experienced record-shattering heat waves and wildfires and weeks of horribly smoky air, which motivated Newsom to pledge “giant leaps forward” in fighting climate change.

Phasing out

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California’s gas-fueled car ban: Can we really all drive electric cars?

SACRAMENTO — With the flick of a pen on the hood of a metallic-red electric Ford Mustang, Gov. Gavin Newsom set in motion the elimination of the internal combustion engine in California.

But turning Newsom’s vision of a cleaner-air future into reality will require 15 years of tough policy decisions to make electric cars affordable and charging stations ubiquitous.

The executive order that Newsom signed last week banning the sale of new gasoline-powered cars starting in 2035 would transform the state’s transportation system to an extent not seen in modern history, putting most drivers in cars powered by electricity. What was missing were the details of how California will require automakers to make such a rapid transition to electric cars, which make up just 6% of the state’s car market today.

The governor has said the order will drive innovation in the auto sector, and he’s left it to state

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EPA Administrator says American public “isn’t ready” for California’s ban on new gas cars [Video]

EPA Administrator Andrew Wheeler spoke with Yahoo Finance’s Alexis Christoforous in a special conversation for Concordia’s 2020 Virtual Annual Summit entitled “From Wildfires to Pipelines,” focusing on the state of environmental affairs in the United States. He comments on the new California mandate which calls for no new gas vehicles by 2035.

Video Transcript

ANDREW WHEELER: I don’t think the public is ready for that at this point. You know, under the Obama-Biden cafe standards during their administration, they set their standards that would have called for 50% EVs by 2025. And the data we were looking at over the last couple of years, when we wrote our regulation, our cafe standards show that the American public is just not embracing the electric vehicles to that extent. I don’t know how they get there by 2035.

There’s a lot of questions. I think it’s more aspirational at this point and

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California’s Ban on New Gas Cars Further Upends Auto Industry

California’s decision to ban sales of new conventional vehicles starting in 2035 shows how regulators’ aggressive emission targets are forcibly reshaping an industry that is struggling to keep its customers on board.

Tighter rules from Europe to the U.S. are accelerating manufacturers’ efforts to shrink their carbon footprint, even as they fight to come back from a pandemic slump. Those rules are also drawing investors toward new electric-vehicle startups hoping to replicate the success of

Tesla Inc.


TSLA 2.78%

Volvo Cars, the Swedish auto maker owned by China’s Zhejiang Geely Holding Group, said Thursday that it was preparing to launch a green bond to fund its electric-vehicle program. The news follows similar issues by

Volkswagen AG


VOW 1.38%

and

Daimler AG


DMLRY 1.17%

, which have both sought to tap into growing investor appetite for clean mobility.

California Gov. Gavin Newsom’s announcement this week that his state will ban the

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