Krisztian Bocsi | Bloomberg | Getty Images
500 miles range Tesla Model S and X are coming and Elon Musk wants to make millions of Teslas. I am waiting here for Tesla Model 3 to unleash the mass market for electric cars and what is coming for Lithium Market you can find in the moist important quote from Elon Musk for us and on the links below.
"I think over time if we continue to, if we build great products and we keep our cost structure competitive, [Tesla will have] many plants — in fact, many auto plants and many gigafactories, I think, are needed."
"I continue my chronicles of The Energy rEVolution and today Joe Lowry has prepared another bucket of ice-water on the heads of Lithium promoters. His arguments will be hard to swallow for a lot of people, but serious investors should definitely look beyond just paid articles and make a proper DD on the companies. Joe is calling today on the reports of LCE price at $11,049/t in China and that trend is going there, but has not reached that level in his opinion. My sources confirm the latest price hike by Ganfeng to that level. The truth lies somewhere in between of the extreme views and every reader can make their own decision. Links for your entertainment and education are provided, as usual. Read more."
"Now we can discuss the real situation in the lithium market and how the full blown shortage situation of Lithium looks like. China is rising and has become the centre of "Lithium Universe". International Lithium strategic partner Ganfeng Lithium put up its prices for a second time in the space of month last week to $11,049/tonne! With rising Lithium prices Ganfeng Lithium market cap is rising as well, now this giant from China has reached $2.3 Billion market cap. Industrial Minerals calls Ganfeng leading Chinese carbonate supplier and you can see the chart below reflecting the market situation in China. It will come as a shock for many:
"Chinese lithium producer Jiangxi Ganfeng Lithium Co. Ltd increased the price of its lithium carbonate last week, marking the second rise in a single month.
Ganfeng has announced in China on its website establishing of $170 million credit line to finance expansion of its production facilities, financing of acquired last year mobile lithium battery maker and investing in the development of raw material base. The security of supply is everything. International Lithium is building vertically integrated lithium business with Ganfeng. Read more."
The most successful electric-car company in the world surprised investors in its earnings earlier this week with its plans to sell as many as 52,000 cars this year. But Tesla dealer lots are going to be commanding a lot more square footage based on comments given by Elon Musk on Friday at the Baron Investment Conference.
Musk, chairman and CEO, sees Tesla Motors eventually churning out "several million" electric cars per year, a far cry from the roughly 50,000–52,000 it expects to deliver this year, and notable given Musk's view that in its early days, he believed Tesla "would almost certainly fail."
Money-losing Tesla now boasts a market value of roughly $30 billion, but that hasn't stopped many investors from driving up the stock's value, including long-term buy-and-hold investors like Ron Baron, the billionaire with whom Musk spoke on Friday in New York City.
Musk believes improvements in battery life and affordability can carry Tesla to these lofty production goals.
"We're making quite substantial improvements," Musk told Baron, whose funds hold sizable positions in Tesla shares. "Most important, really, is the cost," Musk said.
In response to a question from Baron that to meet production goals, Tesla would need to add a lot more manufacturing, Musk said, "I think over time if we continue to, if we build great products and we keep our cost structure competitive, [Tesla will have] many plants — in fact, many auto plants and many gigafactories, I think, are needed."
Musk highlighted the importance of increasing battery efficiency and, in turn, reducing the cost of electric cars and other energy sources. He would eventually like to see a car with a 500-mile range, which could be feasible in a decade or more, he said. In fact, he said it could be done now; it just wouldn't be worth the compromises.
"For us to do, say, a 500-mile-range car, we could absolutely do that right now with current batteries, but the cost would be too high and the use for load impact on the vehicle would be too high. So you would have to fill the front truck and rear trunk with batteries, [and] we would have to infringe a little bit on passenger room," Musk said.