Shares in Lithium companies are soaring after Tesla produced a strong outlook for electric vehicles powered by batteries using the light metal.
The trend has seen The Global XCT Lithium ETF and Soalctive Global Lithium Index rising by a third since February.
According to Bloomberg New Energy Finance, lithium production could triple over the next 15 years.
That would be driven not only by the electric car market but also batteries being installed on power grids.
Tesla is now building a lithium factory in Nevada, located near the only lithium mine in the United States. The estimated cost: $5 billion.
Musk has many other plans in store for us. It’s a brave new world, if you’re Elon Musk