The electric vehicle boom is only accelerating, with companies like Tesla (NASDAQ:TSLA), Nio Inc. (NYSE:NIO), Li Auto (NASDAQ:LI), and General Motors (NYSE:GM) seeing a good deal of demand. However, for that boom to continue, the auto industry must have as much
lithium, cobalt, silver, graphite, and nickel as it can get its hands on. We’re also seeing a substantial increase in demand for niobium, which is driving interest for NioBay Metals Inc. (TSXV:NBY)(OTC:NBYCF).
After all, niobium has an important role with electric vehicles. According to Niobium Canada, “Toshiba revealed in October last year that niobium-titanium used in lithium rechargeable batteries increases the driving capacity of electric vehicles to 320km on 6-minute, ultra-rapid recharge. According to the Japanese heavyweight, that is triple than what’s currently possible with lithium-ion batteries.”
To help meet niobium demand, NioBay Metals may be able to help
NioBay Metals Inc. (TSXV:NBY)(OTC:NBYCF) is developing the James Bay Niobium project, a world-class niobium deposit located in the James Bay region in Ontario, Canada. The company has 100% of the ownership rights to the project, and believes that the James Bay Niobium project, one of the most promising Niobium developments in the world.
The company also just announced the nomination of Mr. Mathieu Savard as director of the Company effective April 13, 2021.
Mr. Savard is currently President of Osisko Mining Inc. Mr. Savard holds a bachelor degree in earth sciences from Université du Québec in Montreal and was a key member of the Virginia team which received the Association de l’Exploration Minière du Québec Prospector of the Year Award in 2004 and the PDAC’s prestigious Bill Dennis Award in 2006 for the discovery of the Eleonore gold deposit, and along with the Osisko Mining management and exploration team received the AEMQ 2017 Discovery of the Year Award, for the discovery of the Lynx deposit at Windfall in Québec. Mr. Savard is Chairman of the board and a director of the AEMQ. Osisko Mining recently delivered a positive PEA update for the Windfall project.
Claude Dufresne, NioBay’s President and Chief Executive Officer, stated: "Mathieu was truly instrumental in the development of Osisko Mining’s Windfall project and we see Mathieu contributing technically and strategically to the development of our projects. Mathieu’s overall experience and skillset compliments well to that of our existing board members. Specifically, the addition of Mathieu will strengthen our team’s ability to connect with the local stakeholders for both our James Bay and Crevier projects."
Other related developments from around the markets include:
Tesla will post its financial results for the first quarter of 2021 after market close on Monday, April 26, 2021. At that time, Tesla will issue a brief advisory containing a link to the Q1 2021 update, which will be available on Tesla’s Investor Relations website. Tesla management will hold a live question and answer webcast that day at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time) to discuss the Company’s financial and business results and outlook.
Nio Inc., a pioneer in China’s premium smart electric vehicle market, provided its March and first quarter 2021 delivery results. NIO delivered 7,257 vehicles in March 2021, a new monthly record representing a strong 373% year-over-year growth. The deliveries consisted of 1,529 ES8s, the Company’s 6-seater and 7-seater flagship premium smart electric SUV, 3,152 ES6s, the Company’s 5-seater high-performance premium smart electric SUV, and 2,576 EC6s, the Company’s 5-seater premium smart electric coupe SUV. NIO delivered 20,060 vehicles in the first quarter of 2021, a quarterly record representing an increase of 423% year-over-year. As of March 31, 2021, cumulative deliveries of the ES8, ES6 and EC6 reached 95,701 vehicles.
Li Auto, an innovator in China’s new energy vehicle market, announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year. As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to robust demand for Li ONEs and in anticipation of new model launches in 2022 and beyond, Li Auto plans to further bolster its direct sales and servicing network.
General Motors announced the launch of Maps+, an in-vehicle, app-based navigation solution, upgrading capabilities for select model year 2018 and newer Chevrolet, Buick, GMC and Cadillac vehicles by the end of 2021. Maps+, which is powered by Mapbox, is expected to begin its rollout to approximately 900,000 vehicles on April 30, as part of select Connected Services plans. For current owners of compatible vehicles that previously did not have navigation built in, Maps+ brings a connected ecosystem of voice assistants, navigation and apps into a singular experience.
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