EV production doubles the demand for electricity as we move into the EV revolution. According to Elon Musk in this article.
"The WNA noted that the nuclear energy industry could respond by anticipating the electrification of transport to ensure that nuclear power is positioned with renewables as the clean energy source to power EVs and support charging stations. For example, on-road charging could make transport routes a prime source for small nuclear reactors.
Which May Lead to Increased Demand for UraniumUranium is the main ingredient needed to produce nuclear energy. Anything that increases demand for nuclear energy also has the potential to increase demand for uranium.
If projections for growth in sales of EVs and an increase in the EV fleet pan out, it is likely that more nuclear power may be necessary to meet the increase in demand for electricity. This is potentially advantageous for uranium demand and, ultimately, prices of uranium and the stocks of companies that mine uranium."https://urnmetf.com/
Nuclear Power, page-335
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