HOUSTON, TX / ACCESSWIRE / January 29, 2019 / The electric vehicle (EV)
market has been nothing short of explosive.
For 2018, EV sales came in at 361,307, reports Inside EVs. That's up 81% year over year.
However, the ''EV boom'' has just gotten under way.
Total SA's chief energy economist believes electric cars could make up 15% to 30% of global new vehicle sales by 2030, as noted
by Bloomberg. The International Energy Agency doubled its 2030 forecast from 23 million to 58 million. Statoil ADA believes EVs
could account for 30% of new car sales by 2030. BHP Billiton believes there will be 140 million electric vehicles on the road by
2035.
Automakers are moving aggressively to develop electric cars as governments in China,
India, and Europe all move to ban gas and diesel engines. General Motors announced plans to go 100% electric. Volkswagen wants to
build an electric version of each of its 300 auto models by 2030. Even Volvo and the Jaguar Land rover have said that their entire
fleets of vehicles will be electric or hybrid-electric by 2019 and 2020, respectively.
However, one of the most critical components has been in short supply - cobalt.
Right now, the EV market uses 42% of global cobalt production, which is crucial for lithium-ion batteries. The other 58% is used
for military gear, as well as every consumer product that enters the market, including cell phones, tablets, laptops, cameras, and
really anything that requires a charge, will require cobalt. As you can imagine, demand is skyrocketing.
Unfortunately, supply isn't. In fact, according to the U.S. Geological Survey, production has fallen, and supply could be slower
than growth demand thanks in part because most global production occurs in the dangerous Democratic Republic of Congo (DRC).
Unfortunately for the EV market, the DRC is estimated to have 3.4 million tons of cobalt,
around half of the world's resources, according to the USGS. That leaves EV makers with quite a predicament considering there are
hardly any pure cobalt mines.
However, new supply is being discovered, and could provide a significant boost to companies such as Explorex Resources Inc.
(CSE: EX)(OTC: EXPXF), Tesla Inc. (NASDAQ: TSLA), and NIO Inc. (NYSE: NIO).
Explorex Resources Inc. (EX)(EXPXF) for example is focused on the acquisition of projects with elements
critical to rechargeable batteries. At the moment, it has two projects within the Cobalt Embayment in northeastern Ontario,
estimated to hold 15,000 tonnes of copper. In addition, the company is involved in a project within the Bathurst Mining Camp, which
consists of seven claims, totaling 4,233 hectares located in north central New Brunswick.
Another key factor that should not be overlooked is its strategic partnership with Gangfeng Lithium Co., one of the largest
manufacturers in the world. Gangfeng is providing up to a $1 million investment and strategic alliance in respect to any future
production of cobalt or lithium.
Even better, the company just announced plans to conduct a comprehensive exploration program at the Kagoot Brook Co-Mn-Base
Metals project in New Brunswick, consisting of a detailed geophysical survey followed by a 2,000m drill program.
Historical work has revealed two drainages that exhibit anomalous cobalt values up to 6,000 ppm in the silts. Recent follow-up
stream silt sampling programs revealed a significant concentration of and a strong relationship of cobalt with manganese and
associated base metals (nickel, copper, lead and zinc); the relative percentage of the cobalt to manganese indicates a favorable
high cobalt tenor (i.e. grade component); and a distinct upstream cut-off of the cobalt mineralization.
For More Information on Explorex Resources Inc., Click Here.
Tesla Inc. (TSLA) continues to be a standout company in the EV market.
According to Green Car Reports, the company delivered 90,700 vehicles in the fourth quarter of 2018. That includes 63,150
deliveries of is Model 3 sedan. ''Model 3 sales alone, for the full year, added up to more than 145,000 vehicles - ;not far from
the 150,000 level, but falling short of some end-of-year estimates. In all, Tesla delivered 245,240 vehicles, which means the
automaker is now in close company with any number of strong-selling established brands.''
For 2019, the company anticipates a ''very strong'' year. In fact, according to Wedbush Securities, as quoted by Fortune, Tesla
is ''poised to generate improved profitability and cash flow that puts the risk of a capital raise in the background for now.''
For More Information on Tesla Inc., Click Here.
NIO Inc. (NIO) - otherwise known as the Tesla of China -- is the country's leading high-end EV manufacturer.
Given China's desire to increase EV adoption rates, and the impressive rollout of its ES8 SUV, the company is seeing significant
catalysts. As of December 2018, the company announced the delivery of 11,348 of the SUVs for the year.
''With 11,348 ES8 deliveries in 2018, we exceeded our delivery goal for our first calendar year as a public company,'' said
William Li, founder, chairman and chief executive officer of NIO. ''2018 has been a milestone year for us, as we produced and
delivered over 11,000 ES8s and launched our second production car, the ES6, a 5-seater high-performance premium electric SUV on NIO
Day in December 2018. We will continue to focus on market penetration by delivering high-quality products and holistic services to
our users and to improve the system efficiency of our development and operations.''
In the month of December 2018, it also unwrapped its second SUV model, the ES6 SUV.
With such catalysts, analysts believe company revenue could quadruple to $2.5 billion in 2019.
For More Information on NIO Inc., Click Here.
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements
that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results,
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