The electric vehicle boom is only accelerating, with Tesla (NASDAQ:TSLA), General Motors (NYSE:GM), Nio Inc. (NYSE:NIO), and Ford Motor Company (NYSE:F) leading the way. Governments all over the world want more of them on the roads. About 70% of Americans are interested in buying them. Auto maker factories are being overhauled to produce electric cars, says CNN, and automakers are “snapping up every battery they can find.” However, there’s a massive problem. Right now, the world is struggling to get its hands on key elements, like graphite, a critical material used for producing the anode of lithium-ion batteries using in electric vehicles and energy storage. However, that’s where a company such as Green Battery Minerals Inc. (TSXV:GEM)(OTC:GBMIF) may be able to help.
“Today, each EV battery contains between 40 and 60 kilograms of graphite material, according to Benchmark Mineral Intelligence,” as noted by Investing News. “Painting a positive picture of the long-term outlook for graphite, many battery market analysts believe the mineral will remain a dominant material in EV batteries for at least the next decade.”