ULTRA LITHIUM INC. — TSX.V-ULT
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Blog - Latest News
Tesla Model 3

Tesla Model 3: Best-Selling Electric Car

February 12, 2019/in In the News/by Gray Leigh

Tesla Model 3 Outlasts the Competition

For now, times at Tesla are good. However, increased competition will soon challenge the electric automaker’s industry dominance. Meanwhile, good news found Mr. Musk and Co. last week. The Tesla Model 3 is the world’s best-selling electric car.

READ: Tesla Model Y Production to Start Soon

The 4-door sedan outpaced the competition in 2018. Granted, most major automakers have only just announced plans to enter the plug-in market. It’ll take some time for premier brands like Porsche and GM to make EV inroads. Nevertheless, Tesla deserves a pat on its metallic back. The Tesla Model 3 made up 7% of all electric vehicle sales last year. That means nearly 150,000 consumers drove the model home.Tesla Model 3

Lapping the Competition

Moreover, that’s nearly 55,000 more units sold than 2nd place. Chinese firm BAIC’s EC-Series sold just north of 90k units. Still, this number represents 4% of global EV sales. Meanwhile, Tesla’s S and X models also did well. Respectively, they placed 4th and 5th. As a result, Tesla is now producing over 1,000 vehicles a day. Consequently, the Tesla Model 3 sets a precedent for future electric vehicles for a number of reasons.

The Growing Value of Lithium-Ion Batteries

Tesla Model 3Firstly, its range is impressive. At a consistent 70mph, one charge lasts 481km. Secondly, it offers all-wheel drive capabilities. It received a perfect 5-star safety rating from the NHTSA. Lastly, it’s a relatively affordable model. At just $45,000, a mid-range battery model is available.

Ultimately, Tesla’s success is a win for the electric vehicle industry. Although plug-ins are yet to push 3% of global vehicle sales, the industry trend is shifting electric. Furthermore, so is the value placed on lithium-ion batteries. Used in most consumer electronics, EV adoption will increase the use of this clean energy technology.

Either way, Li-Ion will power 2019’s most popular vehicle – whatever it may be.

Related Articles

• Honda Urban EV Features Retro Design

• Porsche Taycan Wildly Popular

• Global Lithium Market for Batteries to Double

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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CONTACT INFORMATION
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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