A Good Week for EVs

Since last week: 

The market slumped on persistent inflation data. Further hikes are likely still coming.

A Good Week for EVs.

1. GM’s EV Move

General Motors recently announced that all of its cars will have bidirectional vehicle-to-home (V2H) charging capabilities by model year 2026. This essentially means that every EV the company offers will be able to do things like provide power to homes or send power back to the grid for energy savings. As EVs become more commonplace, car companies need to offer incentives for consumers to choose their offerings over the competition. This is another signal that EV demand isn’t going anywhere, which means anyone interested in profiting would do well to look at the copper that powers the batteries in these vehicles. 

2. Colorado Rebates

Speaking of incentives for EVs, Colorado recently revealed a proposal to offer more rebates for any residents who buy an electric car. The state wants to add nearly one million light-duty EVs to the state’s roads by the end of the decade and is considering new rebates to help make that happen. This could push more people toward ownership and will be a boon for lithium investors as carmakers need more of the metal to power their vehicles. 

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3. Gates’ Uranium

In the UK, a cleaner energy company backed by Bill Gates will enter a race for funding to build dozens of small modular reactors. The company is called Terra Power and was founded in 2006. It will be competing against Rolls-Royce and GE Hitachi for approval from the government. As countries increasingly adopt nuclear power, things like this could become more common. Regardless of the winner, uranium demand is going to go up because of it. 

4. Coinbase’s New Network

Coinbase recently launched the mainnet for Base, its Ethereum layer-2 network. This will let Coinbase bring more users onto its blockchain as it allows for the use of applications beyond just cryptocurrency. It also allows for lower transaction fees and faster transaction speeds. These kinds of developments in the crypto space are what investors should keep on top of if they want to profit.

What to Look For:

Recent inflation data is likely to weigh on markets for the foreseeable future. The Soft Landing may be a bit bumpier.

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Ryan Stancil

Ryan Stancil
Editor, Daily Profit Cycle