As automakers seek stakes in lithium miners to lock in supplies for EV batteries, they’re following a path already forged by their shareholders. mining
As automakers seek stakes in lithium miners to lock in supplies for electric-vehicle batteries, they’re following a path already forged by their shareholders.in buying Toronto-listed Sigma Lithium Corp. If Tesla succeeds, it would follow prominent funds including Manulife Financial Corp., 1832 Asset Management, Maven Securities, DZ Bank and several others that have been snapping up Sigma shares, even as they cut exposure to the electric-vehicle maker.It’s not hard to see the attraction.
“The underlying technology of all EV batteries requires lithium,” he said. “There is yet to be a prominent player that does not require lithium as the cornerstone metal.”when it became the Canadian headquartered miner’s largest investor, which helped the company break ground on a new mine this week. Other car makers stalk mining conferences in an effort to secure supply.
In addition to their cheap valuations, fund managers and analysts see a catalyst for the stocks as new buyers for the equities emerge, including US auto giants. “These are probably not the last deals that we’re going to see in the space,” Pedro Palandrani, head of research for Global X ETFs, said in an interview, referring to carmakers buying lithium-mining stocks.
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