Palm Beach, FL – February 7, 2023 – FinancialNewsMedia.com News Commentary – Governments all over the world are promoting the adoption of vehicles utilizing alternative fuels as a result of the rising concerns regarding the environmental impact of conventional automobiles. EVS are zero emission cars that are becoming more and more popular for eco-friendly public transportation worldwide. To promote the use of EVs, several national governments provide financial incentives such tax exemptions and refunds, subsidies, decreased parking/toll rates for EVs, and free charging. As a result, the demand for EV batteries is increasing quickly across the board. Governments all across the world are also promoting the use of vehicles that run on alternative fuels as environmental worries about conventional automobiles continue to rise. EVs are zero-emission vehicles that are becoming more and more popular for eco-friendly public transportation worldwide. To promote the use of EVS, several national governments provide financial incentives such tax exemptions and refunds, subsidies, decreased parking/toll rates for EVs, and free charging. A report from MarketsAndMarkets projected that the global EV battery market in terms of revenue was estimated to be worth $56.4 billion in 2022 and is poised to reach $134.6 billion by 2027, growing at a CAGR of 19.9% from 2022 to 2027. It said that the market for EV batteries is being driven by factors such as rising demand for electric vehicles, advancements in battery technology, favorable government policies and regulations, and the introduction of new plug-in EV models. Active companies in the markets this week include Infinity Stone Ventures Corp. (OTCQB:GEMSF) (CSE:GEMS), Tesla, Inc. (NASDAQ:TSLA), Lucid Group, Inc. (NASDAQ: LCID), Rivian Automotive, Inc. (NASDAQ: RIVN), NIO Inc. (NYSE: NIO).
The MarketsAndMarkets report said: “Leading EV markets like China, the US, and Germany are spending heavily in EV charging infrastructure in addition to R&D for quicker and more effective charging techniques. Automakers are anticipated to make large expenditures to meet the growing demand for EVs and to shape the industry. For the development of EVs, companies like Tesla, Volkswagen, Ford, Nissan, BMW, and General Motors have large R&D budgets. The expected decline in battery prices and reduced R&D costs are likely to decrease the overall cost of purchasing electric hatchbacks, crossovers, or SUVs to reach the levels of ICE vehicles, leading to the rising demand for EVs. The global EV battery market is dominated by major players CATL (China), Panasonic Holdings Corporation (Japan), LG Chem (South Korea), BYD (China), and Samsung SDI (South Korea). The key strategies adopted by these companies to sustain their market position are new product developments, mergers & acquisitions, supply contracts, partnerships, expansions, collaborations, acquisitions, and contracts & agreements.”
Infinity Stone Ventures Corp. (OTCQB: GEMSF) (CSE: GEMS) BREAKING NEWS: Infinity Stone Options 38,441ha Sugar Loaf and Little Dipper Lithium Projects Near Sigma Lithium in Minas Gerais Province, Brazil – Infinity Stone Ventures Corp. (FSE:B2I) (the “Company” or “Infinity Stone”), is pleased to announce that it has optioned the 38,441-hectare Sugar Loaf and Little Dipper Lithium Projects (the “Sugar Loaf Project” and “Little Dipper Project”, respectively; collectively, the “Projects”). The Sugar Loaf Project is located 15 kilometres from both Sigma Lithium Resources’ (“Sigma Lithium”) (NASDAQ:SGML) Grota do Cirilo Project and Lithium Ionic Inc’s (“Lithium Ionic”) (TSXV:LTH) Itinga Project in the state of Minas Gerais, Brazil. The Little Dipper Project is located in the state of Ceará, approximately 10 kilometres from Oceana Lithium Ltd.’s (“Oceana”) (ASX:OCN) Solonopole Lithium Project. The Sugar Loaf Project comprises 13 exploration permits, while the Little Dipper Project comprises 9 exploration permits.
The Sugar Loaf and Little Dipper Projects were optioned on the basis of perceived geological potential from known mineralized trends. Both Minas Gerais and Ceará have become regions of interest for hard rock lithium exploration, with a number of early and later stage exploration companies active in the region, as well as companies much closer to production such as Sigma Lithium. Brazil has been recognized as one of the world’s major high-grade lithium producers. For example, LG Energy Solutions (“LG”) recently secured a 6-year offtake agreement with Sigma’s subsidiary Brazilian Sigma Mineração SA. LG is a battery supplier to multiple EV companies, including Tesla Inc. (NASDAQ:TSLA).
Sigma’s properties are located in the municipalities of Araçuaí and Itinga, in Brazil’s mining-friendly Minas Gerais State, approximately 450 kilometres northeast of the state capital of Belo Horizonte. Sigma holds 27 mineral rights in four properties spread over 191 square kilometres (19,100 hectares), which include nine past-producing lithium mines.
Infinity Stone intends to conduct a satellite imagery-based spectral analysis to determine areas of interest for targeted exploration. Following this, the Company intends to mobilize an exploration team immediately to the Projects to conduct initial groundwork, including grab and channel sampling, trenching, and mapping. There will be a focus on identifying pegmatites across the claim blocks that have the potential for lithium-cesium-tantalum (LCT) mineralization. CONTINUED… Read this full press release and more news for Infinity Stone Ventures at: https://www.financialnewsmedia.com/news-gems/
Other recent developments in the lithium/EV industries of note include:
Tesla, Inc. (NASDAQ:TSLA) has recently released its financial results for the fourth quarter and full year ended December 31, 2022 by posting an update on its Investor Relations website. Please visit https://ir.tesla.com to view the update. The webcast is archived on the company’s website.
Tesla also recently released its production and delivery results saying: “In the fourth quarter, we produced over 439,000 vehicles and delivered over 405,000 vehicles. In 2022, vehicle deliveries grew 40% YoY to 1.31 million while production grew 47% YoY to 1.37 million.
We continued to transition towards a more even regional mix of vehicle builds which again led to a further increase in cars in transit at the end of the quarter. Thank you to all of our customers, employees, suppliers, shareholders and supporters who helped us achieve a great 2022 in light of significant COVID and supply chain related challenges throughout the year.
Lucid Group, Inc. (NASDAQ: LCID), setting new standards with the longest range, fastest charging electric car on the market, recently announced the official opening of its latest combination Studio, delivery, and service centre in the province of Quebec. The Montrealopening marks 32 Studio and service centre locations in North America and 36 globally, and opened to the public beginning Saturday, January 28.
After exceeding 2022’s provided production goals with 7,180 vehicles produced, Lucid is actively expanding its physical presence in Canada by opening its third retail location in the country and first service, delivery, and sales centre in Quebec. The 1,781-square-meter luxury retail and service space, located at 6700 Rue Saint-Jacques, will provide comprehensive sales and service support to the local area.
Rivian Automotive, Inc. (NASDAQ: RIVN) recently announced that on February 28th, after market close, the company will release its fourth quarter and full year 2022 financial results.
Rivian will host an audio webcast at 5:00 p.m. ET the same day to discuss the performance and outlook for the business. The live webcast will be available here, and a replay will be available for four weeks at www.rivian.com/investors following the webcast.
Rivian exists to create products and services that help our planet transition to carbon neutral energy and transportation. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets. Rivian complements its vehicles with a full suite of proprietary, value-added services that address the entire lifecycle of the vehicle and deepen its customer relationships.
NIO Inc. (NYSE: NIO), a pioneer and a leading company in the premium smart electric vehicle market, recently announced its January 2023 delivery results. NIO delivered 8,506 vehicles in January 2023. The deliveries consisted of 2,190 premium smart electric SUVs, and 6,316 premium smart electric sedans. Cumulative deliveries of NIO vehicles reached 298,062 as of January 31, 2023.
From January 13, 2023 to January 31, 2023, the peak travel season around the Chinese New Year Holiday, NIO provided over 1 million power swaps to its users, among which over 300 thousand swaps were completed at the NIO power swap stations along the highways, and over 11 thousand swaps were flexible battery upgrades to enhance the long-distance travel experience.
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