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Tesla May Not Exist In A Year; Rare Earth Metals To Be "Weaponized"

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***** News Thursday June 06, 2019 16:02

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(***** News) – In the race for dominance in the electric vehicle (EV) market, one expert doesn’t see American companies like Tesla coming out on top.
“I think the Chinese are going to win the race. I would love to have this interview here with you in a year; I’m not even sure if Tesla is going to exist. You can certainly see it in the share price, I think investors are starting to lose a lot of confidence in the ability of the company to maintain its lead,” said Chris Berry, president of House Mountain Partners.
In five years’ time, the Chinese will likely hit their internal EV penetration goals, Berry said, and it is possible that in ten years’ time, Chinese-made electric vehicles will hit the streets of New York.
The growth of electric vehicle market share in the automotive space will create major tailwinds for rare earth minerals, and there are plenty of ways investors can take part, Berry told ***** News on the sidelines of the 121 Mining Investment Conference in New York.
“If you’re still of the belief that there’s going to be ten of 15% EV penetration within the next ten to 15 years, obviously rare earths are going to be a part of that whole battery metals thesis,” Berry said.
Rare earth metals, Berry said, may be under threat of reduced supply as China leverages its position as the world’s dominant supplier of the metals during the trade war.
“China really controls the majority of the supply chain and what we’ve seen from President Xi just in the last couple of weeks is this sort of implicit threat to weaponized rare earths,” he said.
By ***** News
For ***** News