Related Editorial
Advocates have long argued that environmentally friendly technologies could provide a boost to any economy. In the past few years, the rise of the electric car has proved them right. Not only is it creating wealth in the manufacturing sector, but it’s having spill-over effects in related industries. The need for cobalt in the manufacture of green car batteries has fueled staggering growth for First Cobalt Corp. (TSX.V: FCC) (OTCQB: FTSSF) (FTSSF Profile), with a share price increase of as much as 350 percent in a single year. Behind the showmanship of CEO Elon Musk, Tesla, Inc. (NASDAQ: TSLA) is becoming the leading brand name for electric vehicles, with a range of cars and trucks. Mining giant Glencore Plc (OTC: GLNCY) is riding the same wave as First Cobalt, providing a third of the world’s cobalt. eCobalt Solutions, Inc. (TSX: ECS) (OTC: ECSIF) is tackling the new environmental and ethical concerns this growth has raised, by focusing on ethically sourced cobalt for an ethically oriented market. Even the grandee of American motor companies, General Motors Company (NYSE: GM), is getting in on the act with plans to launch 18 new all-electric vehicles by 2023. The electric car industry is set for big growth.
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