May 9, 2023
If anyone needed another reason to consider an electric vehicle, how about the fact that it could potentially power your home?
It’s thanks to a technology called bidirectional charging. This makes it so EVs can receive electricity and discharge it too.
The technology is a matter of both hardware and software, and some models already have it. You can find it in select EVs from Nissan and Kia, for example. Other manufacturers plan on adding it, but haven’t done so yet. Tesla has said it plans on adding the feature by 2025.
If California has its way, every EV sold in the state will require the tech by 2027.
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That’s according to SB 233, a bill introduced to the California Senate. The bill proposes the requirement would apply to passenger vehicles as well as buses and light commercial vehicles. This bill was introduced in late April and looks poised to reach the governor’s desk to become law.
And that’s not surprising considering California is leading the charge when it comes to EV adoption in America. Remember, California has already mandated that new cars sold in the state must be zero-emission by 2035. That’s something that’s caught on in some form or another in many other states. It stands to reason that this latest move may follow suit.
In making sure that EVs are equipped with bidirectional charging, California’s grid could see the kind of resilience that allows it to withstand extreme weather events and increasing power demand. Blackouts caused by storms and increased air conditioning use during heat waves would all but go away.
This would also do away with a lot of the fossil fuel use that leads to many of the weather events that cause the increased power demand. The endgame would be breaking a vicious cycle and putting the state on a path to helping fight climate change.
As you can see from this latest move, California is taking its role in leading the fight against climate change seriously. And where California leads, other states will likely follow.
Between actions like this and increased consumer demand, electric vehicles are not only here to stay, they’re taking over.
Manufacturers have been shifting focus because of that. They’ve been retooling their assembly lines and opening facilities in the US where they’ll receive generous tax breaks.
Lithium manufacturers, who make the batteries that power these electric cars, are going to benefit from actions like this too.
Once a feature like bidirectional charging makes its way into more EV models, it will help the segment appeal to an even wider swath of consumers. That means car companies are going to need to put even more electric cars on lots in California and all across the country.
They’re already scrambling to join forces with lithium miners and producers. That activity will only pick up over the next few years.
That’s why now is the time to buy into lithium miners before they really skyrocket in value and become out of reach.
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There’s one miner in particular that’s set to really benefit from this shift.
The company is only valued at $2 a share right now. That could change at any minute.
With the way the EV market is picking up steam, it won’t be long before there aren’t any lithium producers who haven’t been snatched up by a car company.
You’ll want to get your investment dollars in as soon as possible. This company is one of the perfect ways to do just that.
Editor, Daily Profit Cycle