Last Updated on 07/27/2022 by てんしょく飯
Tesla’s Elon Musk called on other entrepreneurs to invest in a field that is now considered niche but is “like printing money.
Investing in Lithium Mining, Compared to Margins in the Software Sector
Elon Musk of Tesla Inc. and SpaceX Inc. participated in the earnings call, emphasizing the idea that investing in lithium mining can provide significant returns and urging other entrepreneurs to invest in the sector.
I would encourage entrepreneurs to get into the lithium refining business,” he said. Mining is relatively easy, but refining is more difficult,” said Musk. He even went so far as to say that the margins in the lithium mining sector are similar to those in the software sector, so it is like getting a “license to print money.
Lithium is an essential material for electric vehicle batteries, and demand is expected to outstrip supply in the future, with the global lithium mining market expected to grow at a healthy rate of more than 5.1% between 2021 and 2026, up from about 3,271 million in 2020, according to a report published by Report Ocean in 2021. A healthy growth rate of more than 5.1% is expected between 2021 and 2026, according to the report.
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