ULTRA LITHIUM INC. — TSX.V-ULT
Ultra Lithium Inc. ULT
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Blog - Latest News
fastest growth phase

Fastest Growth Phase: Electric Car Use Increases

April 22, 2019/in In the News/by Gray Leigh

Electric Car Industry Enters Fastest Growth Phase

The secret’s out: the world’s auto industry is changing. Consequently, a report suggests the electric vehicle industry has entered its fastest growth phase. As a result, immense sales growth is expected in several key markets. Moreover, EVs are already outselling gas-powered models in Norway.

READ: Driver Survey: 75% of Americans want EVs

This will also happen very soon for both Denmark and Sweden. Ultimately, rapid technological improvements have helped usher in this new era. Moreover, greater battery range and charging station access have lured consumers.

From an economics standpoint, EV sales follow an ‘S’ curve. To explain, sales start slowly, as supply outpaces demand. Then, demand starts to drastically outpace supply.

Governments and Automakers Go Green

fastest growth phaseEvidently, government policy has helped. China and Europe have enjoyed immense success with their respective tax breaks and eco-conscious initiatives. Moreover, even the United States might revive its expired EV tax credit.

As a result, automakers have more incentive than ever to produce electric models. Currently, nearly every major automaker has announced EV plans.

Harley-Davidson will soon roll out a line of electric bikes. Similarly, energy titan Dyson is manufacturing its own fleet in Singapore. Furthermore, major brands like VW and GM have determined that going green is good for business.

Global Lithium Use to Increase

fastest growth phaseMoreover, they’ve concluded that sticking to only gas-powered vehicles is financial suicide.

Inevitably, this shift has sent ripples across multiple sectors. Most noticeably, mining and industry. As electric vehicles grow in popularity, the world’s reliance on oil and gas slowly diminishes.

Instead, the minerals involved in lithium-ion batteries grow in value. Li-Ion batteries power electric vehicles, and no alternative has presented itself. Primarily, they require lithium and cobalt.

Perhaps the industry’s fastest growth phase will speed up the shift away from fossil fuels.

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2019 Electric Cars To Get Excited About

Indonesia EVs: 20% of All Vehicles by 2025

Norway EV Sales Lead World in 2018

Ultra Lithium Inc. A team of lithium experts with a finger on the pulse of clean energy news, Ultra Lithium is a lithium exploration company with holdings in Argentina, Canada and the US (TSX-V: ULI, OTCQB: ULTXF and Frankfurt: QFB).

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LATEST NEWS

  • Ultra Lithium Cuts 1.81 Percent Lithium Oxide Over 10 Meters in Channel Samples at the Forgan Lake Lithium Property Northwestern OntarioMarch 3, 2023 - 10:16 am
  • Ultra Lithium Invites Shareholders and Investment Community to Visit Booth #2353 at PDAC 2023 Toronto, March 5-8, 2023March 2, 2023 - 6:00 am
  • Ultra Lithium Assays Up To 417 PPM Lithium in Drill Hole at the Laguna Verde Brine Lithium Project in ArgentinaFebruary 28, 2023 - 4:30 am
  • Ultra Lithium Intersects 2.68 Percent Lithium Oxide at The Forgan Lake Lithium Property in Northern Ontario, CanadaFebruary 8, 2023 - 5:00 am
  • Ultra Lithium Responds to Government of Canada Critical Minerals AnnouncementNovember 4, 2022 - 4:30 am

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Laguna Verde Brine Lithium Property
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Forgan Lake Lithium Pagmatites
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Ultra Resources Inc.
1120 – 789 West Pender St.
Vancouver BC V6C 1H2
Canada

Kiki Smith, CPA, CGA
Chief Financial Officer
E: [email address protected by javascript]
T: +1-778-968-1176

Afzaal Pirzada, M.Sc.(Geo), P.Geo.
Vice President, Exploration
E: [email address protected by javascript]
T: +1-778-558-4940

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