The New Gold Rush

EV Marketplace Overview

We have seen significant leaps in the innovation of battery technology with hybrid chemical architecture. The next phase will be countries vigorously looking for mineral reserves in their backyard. It seems Turkey just found a big one as seen below. With the speculation created by news like this, costs should begin to settle and drive downward for EVs over time. Coupled with the saving of electric cost per mile vs. gasoline cost per mile, the total cost of owning an EV becomes very attractive. These headlines increase adoption, triggering accelerated investments due to a more favorable risk assessment outlook. 

Even better news, discoveries like this will allow for faster innovations in the production of stationary energy storage applications that will lessen the burden on public power grids which, of course, is the last barrier to mass adoption. These are exciting times for sure.

Turkey announced it discovered a massive, rare-earth reserve almost as big as the world's largest in China last week. The find is reportedly so significant that it could, on its own, satisfy global demand for decades. According to the Turkish Ministry of Energy and Natural Resources, the country found a supply of 694 million metric tons of rare earth minerals in Beylikova, Eskişehir. That reportedly makes Turkey's rare earth reserve the second largest behind China.

More encouraging news for the EV landscape with the Volkswagen Group’s announcement this week. VW will invest more than 20 billion euros ($20.38 billion) in a battery cell business jointly with partners, creating 20,000 jobs and reaching annual sales exceeding 20 billion euros by 2030 as it seeks leadership in the growing market. The Powerco unit will manage VW's global battery production and research from raw material mining through to recycling and projects, including energy storage systems, the automaker said at the groundbreaking ceremony for its first European battery cell factory in Salzgitter, Germany.

To fight inflation and keep our public service utilities running at full capacity, Police departments, postal offices, and many other vehicle fleet operators are considering switching to battery electric vehicles. Of course, the catalyst is rising fuel costs and the estimated cost saving of the infrequent regularly scheduled maintenance of a BEV vs. an ICE vehicle. As reported by www.government-fleet.com, Indiana PD paid off their Tesla purchase three years post-purchase. They showed a real-world use case that proves the EV ROI. These results evidence the predictive MPGe math. This police department says the initial investment is paying off as the Model 3 costs the department $60 per month in fuel compared to more than $550 for an internal combustion engine (ICE) vehicle cost to fuel. As an added benefit, they aren't being outrun by a ZR1 either. See that HERE

Happy Driving!

The EV Guy.

Bi-Weekly Newsletter: Subscribe Here