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Bulls on the Street Watching Billion Dollar Electric Vehicle (EV) Market Shift into High Gear

Palm Beach, FL – January 26, 2021 – The global market for EVs has been growing consistently over the last few years, but expectations for the next several years are projected to grow at an even more substantial rate as to both number of vehicles and resulting revenues. Grand View Research projects that the global electric vehicle market demand was estimated at 2,373.5 thousand units in 2019 and is expected to witness a CAGR of 41.5% 2020 to 2027. Their report said that: “The market is driven by initiatives taken by governments of various countries to promote the manufacturing of electric vehicles… Stringent vehicle emissions regulations have led to the rise in demand for electric vehicles. For instance, the European Union set itself a target of net-zero greenhouse gas emissions by 2050. Electric vehicles produce lower emissions as compared to conventional vehicles. This has led governments around the world to increase awareness and promote the adoption of EVs to reduce oil consumption, air pollution, and related emissions… Thus, the market will grow at a notable rate during the forecast period.”    Active stocks in the markets this week include Tesla, Inc. (NASDAQ: TSLA), Altair International Corp. (OTCPK: ATAO), NIO Inc. (NYSE: NIO), Nikola Corporation (NASDAQ: NKLA), Blink Charging Co. (NASDAQ: BLNK).

 

The Grand View report added: “Rising investments in electric vehicles is considered a major driver for the market.  Major companies such as Companies such as Daimler AG, Ford Motor Company, and Groupe Renault are investing heavily in their plan to manufacture EVs… Thus, the market is anticipated to rise (through 2027).”  Another report from Allied Market Research projected that the revenues will also increase. They said: “The global electric vehicle market is projected to reach $802.81 billion by 2027, registering a CAGR of 22.6%. Asia-Pacific was the highest revenue contributor, accounting for $84.84 billion in 2019, and is estimated to reach $357.81 billion by 2027, with a CAGR of 20.1%. North America is estimated to reach $194.20 billion by 2027, at a significant CAGR of 27.5%. Asia-Pacific and Europe collectively accounted for around 74.8% share in 2019, with the former constituting around 52.3% share. North America and Europe are expected to witness considerable CAGRs of 27.5% and 25.3%, respectively, during the forecast period. The cumulative share of these two segments was 40.1% in 2019, and is anticipated to reach 51.0% by 2027.”

 

Altair International Corp. (OTCPK: ATAO) BREAKING NEWS:  ALTAIR PROVIDES UPDATE ON LITHIUM EXTRACTION AND BATTERY RECYCLING TECHNOLOGY – Altair International Corp. (the “Company” or “Altair”) is pleased to provide an update on its previously announced partnership with St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) (“St-Georges”) a Canadian public company engaged in the development of new Lithium extraction technologies.

 

On December 1, 2020 the two companies entered into a Binding agreement that would allow Altair access to St-Georges’ patent-pending Lithium processing technology for Altair’s Nevada based Stonewall project and most importantly bring together the two companies to jointly develop a patentable industrial scale process for Electric Vehicle Lithium-ion battery (LIB) recycling.

 

As the global Electric Vehicle (EV) market heats up over the coming decade, the demand for battery metals is expected to outpace current production. Even with increased energy density and charge cycles, Lithium based batteries for EVs, laptops, phones and other mobile devices will create cumulative waste challenges both in the environmental footprint of production and end-of-life LIB disposal.

 

Altair and St-Georges recognize that new optimized recycling technologies will offer valuable solutions to both a waste-management and battery metal supply. Selective, economic and responsible metal extraction of spent LIBs will be an integral part of the multi-billion dollar green economy and play a crucial part in the future of EV dominance.

 

At present our two companies are working diligently to complete a long-form partnership agreement before the end of the month. As well, St-Georges has named Paul Pelosi, Jr, a member of Altair’s Advisory Board, to the position of President of EVSX Corp, the subsidiary that St-Georges has dedicated to the development of our recycling technology program.   Read this entire release for the Altair International news at:  https://www.financialnewsmedia.com/news-atao/

 

Other recent developments in the EV market include:

 

Tesla, Inc. (NASDAQ: TSLA) will post its financial results for the fourth quarter and full year ended December 31, 2020 after market close on Wednesday, January 27, 2021. At that time, Tesla will issue a brief advisory containing a link to the Q4 and full year 2020 update, which will be available on Tesla’s Investor Relations website. Tesla management will hold a live question and answer webcast that day at 3:30 p.m. Pacific Time (6:30 p.m. Eastern Time) to discuss the Company’s financial and business results and outlook.

 

What: Date of Tesla Q4 and full year 2020 Financial Results and Q&A Webcast – When: Wednesday, January 27, 2021 – Time: 3:30 p.m. Pacific Time / 6:30 p.m. Eastern Time – Q4 & FY 2020 Update: http://ir.tesla.com  -Webcast: http://ir.tesla.com  (live and replay)

 

Nikola Corporation (NASDAQ: NKLA) has secured an innovative electric rate schedule with Arizona Public Service Company (“APS”) that makes possible the accelerated development of hydrogen-based fueling solutions for the transportation industry. Nikola is a company dedicated to the advancement of innovative zero-emissions truck solutions and the energy infrastructure required to make this feasible. By facilitating low-cost production of hydrogen, the Arizona Corporation Commission’s (“ACC”) approval of this rate schedule paves the way for the curtailment of greenhouse gases in the transportation sector, while also providing benefits to key constituents via novel grid-balancing solutions.

 

NIO Inc. (NYSE: NIO) recently announced that it closed the offering (the “Notes Offering”) of US$750 million in aggregate principal amount of convertible senior notes due 2026 (the “2026 Notes”) and US$750 million in aggregate principal amount of convertible senior notes due 2027 (the “2027 Notes,” and, together with the 2026 Notes, the “Notes”), which included the exercise in full by the initial purchasers in the Notes Offering of their option to purchase up to an additional US$100 million in aggregate principal amount of the 2026 Notes and US$100 million in aggregate principal amount of the 2027 Notes. The Notes were sold to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company plans to use the net proceeds from the Notes Offering mainly for general corporate purposes and to further strengthen its cash and balance sheet positions.

 

Shortly after the pricing of the Notes, the Company entered into separate and individually privately negotiated agreements with certain holders of its outstanding 4.50% convertible senior notes due 2024 (the “2024 Notes”) to exchange approximately US$581.7 million principal amount of the outstanding 2024 Notes for the Company’s American Depositary Shares (“ADSs”), each representing one Class A ordinary share of the Company (each, a “2024 Notes Exchange” and collectively, the “2024 Notes Exchanges”). The 2024 Notes Exchanges closed on January 15, 2021.

 

Blink Charging Co. (NASDAQ: BLNK) recently closed its previously announced underwritten public offering. In the offering, Blink sold 5,400,000 shares of its common stock at a public offering price of $41.00 per share, for gross proceeds of $221.4 million. The underwriters also exercised their option in full to purchase an additional 260,000 shares of common stock from the Company and 550,000 shares from the chief executive and one other officer of the Company, resulting in additional gross proceeds of approximately $10.7 million to the Company and $22.6 million to the selling stockholders. The total net proceeds to the Company, after underwriting discounts, but before estimated expenses of the offering payable by the Company, were approximately $221.6 million.

 

Blink intends to use the net proceeds from the offering to supplement its operating cash flows to fund EV charging station deployment and finance the costs of acquiring competitive and complementary businesses, products and technologies as a part of its growth strategy, and for working capital and general corporate purposes.

 

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Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

 

SOURCE Financialnewsmedia.com

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