More fuel (scuse the pun) to the REE(EV) revolution.
Soooo, I'm just reading that Volvo now intends to be a purely EV manufacturer by 2030 https://www.reuters.com/article/idUSL2N2KZ10C. This is along with a host of other manufactures who are making similar announcements and states like California which are mandating no new ICE vehicles (pretty sure I read that somewhere), but lets just focus on Volvo for this first bit and then extrapolate.
Looking at their 2019 car sales Volvo manufactured 538,299 vehicles in leading countries.
(thanks statista: https://www.statista.com/statistics/475540/car-sales-of-volvo-in-leading-countries/)
Give me a little leeway here and lets assume that the average EV uses 1 to 2 kg of rare earths, that's an increase of 538t >> 1076t ,just for Volvo alone per year! (https://www.edisongroup.com/edison-explains/electric-vehicles-and-rare-earths/)
Obviously this is inclusive of many rare earth elements and I don't have have the exact breakdown so this is general in nature. (if you have the breakdown % or the actual estimated amount in kg per EV please share so we are all a little bit more informed)
Now lets take a big step back and survey the global production of 64,000,000 vehicles per year in 2020 this is down from 80,000,000 in 2017
(thanks again statista: https://www.statista.com/topics/1487/automotive-industry/)
that's 64,000t >> 128,000t just to maintain current production if the switch to EV's is universal,
Of course this doesn't account for upgrading existing ICE motor vehicles, just for a taster the US has approximately 276,000,000 motor vehicles registered in 2017 and the number is increasing. Now not everyone can afford a shiny new Tesla or Volvo so I expect this would be a slow transition with the associated motto..... If you're not going green the ICE tax is mean!
(ah Statista your doing it for me today:https://www.statista.com/statistics/183505/number-of-vehicles-in-the-united-states-since-1990/)
Now pause for a moment and consider that Sino REO production was 140,000t in 2020
(I love you statista: https://www.statista.com/statistics/268011/top-countries-in-rare-earth-mine-production/)
My above postulation is just for EV's and doesn't include wind turbines or the myriad of other uses like televisions, led lighting, weapons and advanced guidance systems, the F35, smart phones, submarines, computer monitors, hard drives etc, etc, blah, blah, blah.
Lets be frank here this list is extensive and probably longer than Ron Jeremy.
I'm just doing the math and the future looks pretty good for a first mover in a hot sector.
All purely opinion and speculation on my part whilst gazing at my crystal balls
not advice, definitely not advice, so do not misconstrue it as such.... It's just the ramblings of a mad investor hoping his investment does magical things over the coming years.
Sincerely wishing good things come to all holders on this wild electric ride.
SB
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