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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The Saudi Arabia of Lithium Has a Calming Message for Car Makers

    

Photographer: Cristobal Olivares/Bloomberg

The nation sitting on half the world’s lithium reserves has a calming message for electric car makers: tougher environmental oversight won’t threaten future production of the metal used to make batteries.

Chile’s environmental regulator is working with other agencies to devise a plan for strengthening supervision of mining companies that pump out hundreds of liters a second of lithium-laced brine from beneath the Atacama salt flat. Under pressure from investors and customers, miners are already investing millions to reduce their footprint and they too say that shouldn’t constrain output.

While the main objective is to mitigate the impact on the fragile ecosystem and local communities, the new integrated approach to oversight shouldn’t jeopardize production in an era in which sustainability is a starting point, said Cristobal de La Maza, who heads the agency known as SMA. The Chilean expansion plans of Albemarle Corp.

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The Best Lithium Producer Stocks to Play the Electric-Car Boom

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Lam Yik/Bloomberg

There’s only one thing standing between Tesla and world domination—the global supply of lithium. And that’s good news for lithium producers.

When Tesla (ticker: TSLA) held its battery day on Sept. 22, CEO Elon Musk laid out plans to build massive amounts of Tesla-owned battery capacity—enough to make about 30 million electric vehicles by the end of the decade, up from roughly 500,000 in 2020.

Such an enormous increase depends upon mass acceptance of electric vehicles over traditional combustion-engine ones and the creation of the infrastructure necessary to fuel that many EVs. But it will also require a massive amount of lithium to make the batteries those cars will run on—a massive challenge in its own right.

Right now, the world mines roughly 400,000 tons of lithium a year, enough to power 2 million to 3 million electric vehicles, though only a third of that goes

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Tesla Deal Sends Lithium Stock Soaring 200%

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Sharess of Australia-based Piedmont Lithium rocketed on news of a deal with Tesla. Other lithium stocks are gaining, as well.


David Paul Morris/Bloomberg

Shares of aspiring lithium miner

Piedmont Lithium

are soaring after signing a deal with

Tesla.

The deal is a sign that Tesla is very focused on the supply chain.for electric-vehicle batteries. The move also shows what can happen when an EV behemoth decides to make a move.

Piedmont (ticker: PLL) is a tiny company with no sales and a market capitalization of about $130 million, before the deal was announced. Piedmont’s U.S.-listed American depositary receipts are trading at $34.00, up 209.10%, Monday morning. The Australian-listed stock soared, as well.

Tesla (TSLA) has a market value of about $380 billion, making it the world’s more valuable auto maker by a wide margin.

The deal is for five years of lithium-ore supply with an extension for

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