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Blog - Latest News

Tesla Profitable: Good News for Lithium

October 29, 2018/in In the News/by Gray Leigh

Tesla Profitable for 1st Time in Years

This past week, clean energy advocates couldn’t believe their eyes: Tesla Profitable. This hasn’t happened in 2 years. Consequently, it appears North America’s largest EV manufacturer has righted the ship. Last week, Tesla’s stock (TLSA) price closed up 9%. This happened for a number of reasons, but largely because it per vehicle production cost by 30%.

Adding to the value bump is the phenomenal success of its Model 3, which sold over 17,000 models in August.tesla profitable

What this Means for the Electric Vehicle Industry

This news is welcomed by an industry in desperate need of something positive. With the constant circus surrounding Mr Musks’ exploits and Tesla owing over $1.7 billion USD, clean energy advocates celebrated. With only 1% of the American auto fleet electric, a profitable Tesla proves that plug-in cars can be profitable.

Furthermore, debt reduction will allow the American automaker to invest in further infrastructure upgrades and technology. These are desperately needed to increase battery range and make electric vehicles affordable.

How this Affects Lithium

lithium profitableTesla’s fleet is powered by lithium-ion batteries – as are all other electric vehicles. Consequently, lithium is needed to power these battery’s storage cells.

Ultra Lithium owns various lithium mining operations in South America. Recently, it applied for a drilling permit at its Laguna Verde, Argentina property. Projects like these are important to fueling Tesla’s ambitions. After all, lithium’s value is closely tied to the electric vehicle industry’s success.

Ultra Lithium Inc. A team of clean energy experts with a finger on the pulse of mining news, ULI 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
– Laguna Verde Brine Photos
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Georgia Lake Lithium Pagmatites
– Georgia Lake Lithium Photos
Forgan Lake Lithium Pagmatites
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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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