The global push for electric vehicles is only accelerating.
All as the world pushes for lower emissions.
The U.S. for example just pledged to reduce emissions by up to 52%, which could provide a sizable boost to the EV industry. The UK just announced plans to stop the sale of diesel and gasoline vehicles by 2030, opting for EVs. Germany unveiled a budget, which includes subsidies for electric vehicle buyers. Israel announced it will phase out fossil fuel vehicles by 2030.
In addition, according to “A new report by Cairn Energy Research Advisors, a research firm focused on the battery and EV industries, predicts a surge in electric vehicle sales in 2021 as countries around the world push new programs to encourage consumers to buy battery powered vehicles. Cairn estimates global sales of EVs in 2021 will jump 36% and top 3 million vehicles for the first time ever.”
However, for the EV industry to succeed, it must have far more supply of lithium. Fueling the need for lithium, President Biden unveiled an executive order targeting 50% of U.S. new car sales to be electric by 2030, as reported by Barron’s.
It’s why stocks such as Albemarle (ALB) and Lithium Americas (LAC) are on the move.