Elon Musk has a big problem.
Tesla Motors (NASDAQ: TSLA) plans to increase its electric vehicles production . . .
From 499,550 EVs in 2020 to over 20 million EVs by the end of the decade. And that means Tesla needs more of one critical battery metal.
Go here for urgent details on my #1 stock – my estimates suggest 985% profit potential.
Tesla and Elon Musk desperately need lithium to hit the company’s EV goals. And that’s why the company is exploring the acquisition of lithium properties in the U.S.
In late 2020, Tesla was in talks to acquire Cypress Development according to Bloomberg News.
Cypress is a Nevada lithium developer with over 6,000 acres. And it’s estimated to be sitting on over $1 billion of this critical battery metal.
Rumors of the deal sent Cypress shares soaring 306% last year!
Now, that deal ultimately fell through . . .
But that didn’t derail Tesla CEO Elon Musk.
Tesla recently secured mining rights to 10,000 acres of land in Nevada. This land is rich with lithium deposits and Tesla plans to begin mining within a couple years.
This land position is nearby Tesla’s $4.9 billion battery Gigafactory outside of Reno.
The move aims to provide Tesla with a reliable domestic source of lithium. Currently, the company is dependent upon imports from China and Chile.
Elon Musk is likely searching for another major lithium deposit. And it’s focused on premier properties near the Nevada Gigafactory.
That’s why I’m extremely excited about one new American lithium stock. It already has the rights to 2,900 lithium-rich acres in Nevada.
One of the company’s properties is located next door to the ONLY operating mine in America.
This stock just launched its IPO. And that means you can still scoop up shares for under $1. It’s your chance to become a “founding investor” in an early stage stock – BEFORE it takes off.
Frankly, this company could soon be a buyout target for Tesla Motors and Elon Musk. And my price target estimate suggests that the stock could soar 985% in the coming years.
Yours in Wealth,