Buy into the EV Revolution with This Top U.S. Car Brand
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| By Tony Sagami |
When it comes to powering cars, our options are either extracting oil from the earth to power an internal combustion engine or extracting massive amounts of minerals needed to make batteries for an electric vehicle.
It’s an inconvenient truth, but an EV requires 600% more minerals than a conventional car.
Those minerals aren’t light. A typical EV battery weighs 1,000 pounds. That battery includes 190 pounds of graphite, 130 pounds of nickel, 90 pounds of copper, 60 pounds of cobalt and 30 pounds of lithium.
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In total, every 1,000-pound EV battery requires moving over 500,000 pounds of earth, creating mountains of rubble from the mining and processing of minerals.
EVs have zero tailpipe emissions, but the energy used to charge the batteries is only as clean as the power plant that produces the electricity.
According to the U.S. Energy Information Agency, 65% of America’s electricity is produced from fossil fuels: 38% from natural gas, 22% from coal and 5% from petroleum.
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Unfortunately, EVs aren’t as environmentally friendly as many people would like.
The good news is that renewable energy sources — wind, solar, biomass and geothermal — are increasing and now generate 20% of our country’s electricity.
However, one of the biggest concerns when it comes to EV batteries is …
Hazardous Waste Disposal
All machinery, including batteries, eventually wear out and will need to be replaced. The price tag for replacing an EV battery can be as high as $20,000, often costing more than the vehicle is even worth — and estimates range anywhere between $6,000 and $20,000 depending on the model.
Those used-up batteries end up in landfills, and according to the EPA, there were 65 landfill fires last year that were caused by lithium-ion battery waste.
I am not saying that EVs are bad. But the fact is, EVs are not as environmentally friendly as green-energy advocates want you to believe.
That said, there is no question that EVs are the future of the automobile industry.
That is music to the ears of EV makers. Especially for U.S. EV maker Tesla (TSLA), which recently dethroned BMW as the luxury sales king after the German brand held the title for the past three years.
It is also the first time in 25 years that an American brand has led luxury sales.
Tesla didn’t just beat BMW, it beat the pants off them. According to Automotive News, Tesla sold 491,000 EVs in 2022, which was 158,612 more than BMW.
That 491,000 vehicles sold by Tesla was a whopping 44% increase in sales from 2021.
Tesla’s stock has been under pressure ever since Elon Musk bought Twitter, but I consider that a temporary speed bump.
Tesla reports its next quarterly results on April 18, and I expect it to smash Wall Street’s 85-cents-per-share profit forecast. That is why both my Disruptors & Dominators members and I own Tesla.
I think you should, too — after conducting your own due diligence, of course.
That’s it for today. I will be back with more soon.
All the best,
Tony
P.S. The Federal Reserve’s actions should have investors concerned for their financial well-being.
Starting as soon as May 2023, their insidious “Fed Control” powers could go live, which means that any accounts linked with the U.S. banking system could soon be at risk for surveillance of all transactions … or worse.
Investors who want to take action to protect their money should click here for four steps to take now to stay safe and grow their wealth.
