- EV sales in worldwide and nationwide forecast for “strong acceleration”
- U.S. EV market projected to reach more than $61B this year with an annual growth rate of 22.79% through 2027
- Battery Mineral’s mission is the discovery, acquisition and development of battery metals
In what a U.S. Bureau of Labor Statistics (“BLS”) article is calling “one of the fastest-growing manufacturing industries in the economy” (https://ibn.fm/Pfv6a), the electrical equipment and manufacturing industry is largely driven by growth in the electric vehicle (“EV”) sector. A growing player in that space, Battery Mineral Resources (TSX.V: BMR) (OTCQB: BTRMF) is positioning itself to benefit from what some experts project to be double-digit CAGR through 2027 (https://ibn.fm/3tdMt).
“Although forecasts for the rate of EV adoption over the next decade vary widely given rapid changes in both government policies and the auto manufacturing industry in recent years, many forecasts expect a strong acceleration in EV adoption,” reports the BLS article. “S&P Global Mobility forecasts electric vehicle sales in the United States could reach 40% of total passenger car sales by 2030, and more optimistic projections foresee electric vehicle sales surpassing 50 percent by 2030.”
The article, titled “Charging into the Future, the Transition to Electric Vehicles,” notes that “employment in the electrical equipment and component manufacturing industry, which includes the production of electric vehicle batteries and battery chargers, is projected to increase 17% over the 2021−31 decade, making it one of the fastest-growing manufacturing industries in the economy.”
Statista projects revenue in the U.S. EV market to reach more than $61 billion this year alone, with an annual growth rate of 22.79%, resulting in a projected market volume of $139.10 billion by 2027. The leading provider of market and consumer data goes on to report that U.S. EV market unit sales are expected to reach 2.13 million vehicles that same year. Globally, Goldman Sachs Research projects that EVs will make up about half of new-car sales by 2035 (https://ibn.fm/8gmbx).
All of this bodes well for Battery Minerals, a company working to provide shareholders with exposure to the global megatrend of electrification while focusing on growth through cash flow, exploration and acquisitions in favorable mining jurisdictions. Battery Mineral’s mission is the discovery, acquisition and development of battery metals (namely cobalt, lithium, graphite, and copper) in North America, South America and South Korea, and the company is committed to becoming a premier, responsible supplier of battery minerals to the electrification marketplace.
BMR is currently working to resume operations of the Punitaqui Mining Complex, a past copper-gold producer in the Coquimbo region of Chile. The company is also the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp in Ontario, Canada, and continues to pursue a focused program to build on the recently announced, 1-million-pound-plus high-grade cobalt resource at McAra. In addition, Battery Mineral owns 100% of ESI Energy Services Inc., a profitable mainline pipeline and renewable energy equipment rental and sales company with operations in Alberta, Canada, and Arizona.
For more information, visit the company’s website at www.BMRCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to BTRMF are available in the company’s newsroom at https://ibn.fm/BTRMF
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