$MEGA - Aiming to Capitalize on the EV Boom MegaWatt Lithium ($MEGA) is a company with exploration projects in Canada and Australia. With a focus on EV metals such as cobalt, lithium, silver, rare-earths, etc., things look pretty good for the company as EV demand explodes.
Research shows that 66% (or two-thirds) of car sales will be fully electric by 2040, with Europe and China leading the way. With this EV demand comes another increase in the need for batteries.
- The current production of lithium-ion batteries is at 586 gigawatt-hours per year
- 822 gigawatt-hours are under construction (lead by China)
- Now, the EU plans to supply their demand for batteries (lifting a heavy reliance on China) by 2025. There is a worldwide total of 1160 gigawatt-hours worth of annual lithium-ion production announced (but not yet under construction)
- 3.4x increase in lithium-ion output over the next few years (adding both under construction and announced gigawatts-hour numbers)
$MEGA plans on being a key supplier of EV metals to help satiate the demand in the sector. As EVs improve every year more people are becoming interested in the cars. With a market cap of only $20M, $MEGA can see a lot of growth in the future as the EV sector booms. Will be adding more very soon!
https://www.bloomberg.com/news/articles/2021-08-09/at-least-two-thirds-of-global-car-sales-will-be-electric-by-2040