Nov. 23, 2022
The news just can’t get enough of Elon Musk’s $44-billion takeover of Twitter…
The headlines continue to wonder if Elon can pull it off.
Will he wreck the company with his layoffs and rules, even though he’s only a few weeks in? He certainly paid enough for the company — are we witnessing the laughable folly of the world’s richest man?
But Twitter is only a distraction from Elon’s biggest woe: where to find enough lithium for Tesla’s upcoming fleet of electric vehicles.
The cost of lithium is now 500% higher than it was two years ago.
And it’s still climbing! Mining experts now think that we’ll see the price continue to climb for several more years. Lithium production is already nearing full capacity across the globe, which means that an increase in supply can only come from tapping into new sources.
And then add to this the fact that Elon is in the process of trying to triple car production at Tesla — combine it all, and Tesla’s battery metals bill is now over $100 billion (more than double what he paid for Twitter).
Elon’s certainly got his work cut out for him, because Tesla isn’t the only one with this problem.
He’s going to have to outmaneuver all of Detroit to get the lithium he needs.
Take Ford, for example.
According to Bloomberg, Ford is making an emergency overhaul of its entire supply chain so they can get enough lithium to meet upcoming production. They’re trying to hit a goal of producing 2 million EVs a year by 2026.
And then there’s General Motors. They recently spent $10.8 billion in a single week to buy battery materials — and according to their own press statements, they plan on spending $50 billion more over the next four years. That’s quite the shopping spree!
Every single car manufacturer on the planet is now facing this problem as they scramble to transition to an electric future.
The race is on for more lithium… and we’re ready.
Over the past few weeks, I’ve been working closely with our co-founder Nick Hodge on the best way to play this lithium crisis.
He’s repeatedly used the resource space to make money on the rise of electric vehicles, including 346%, 582%, 707% on small lithium mining companies. And that’s on top of a 1639% win he made on a company named Lithium X during the first lithium boom back in 2015.
The more EV companies want lithium, the more Nick and his readers make from his mining investments.
The runaway growth we’re seeing now has created the best opportunity yet to come…
So as Elon struggles to meet Tesla’s overwhelming lithium demand, you can make a fortune by offering him the supply.
Editor, Daily Profit Cycle