Tesla and Others Increasing their North American Focus Seen as a Positive Development for Canadian Lithium Sector

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[{"type":"text","content":"Tesla and Others Increasing their North American Focus Seen as a Positive Development for Canadian Lithium Sector\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, Canada\n–\n \n \n TheNewswire -\n \n \n March 6, 2023 –\n \n \n Arbor\nMetals Corp. (\n \n \n “Arbor”\n \n \n or the “\n \n \n Company\n \n \n ”)\n(TSXV:ABR,\n \n \n (\n \n \n FWB:432)\nconsiders the news that Tesla, and other automobile makers are\nincreasing focus on North America for expansion facilities to meet EV\ndemands, due to beneficial subsidies and government support (such as\nthe USA Inflation Reduction Act), as an encouraging development for\nlithium exploration and development companies as well.\n \n \n \n \n Source:\n \n \n \n https://www.cnbc.com/2023/03/03/tesla-one-of-many-companies-to-review-investments-in-europe-after-biden-ira.html\n \n \n \n \n \n Tesla, and European companies including Northvolt,\nLinde, Volkswagen and Enel have all expressed interest in profiting\nfrom the U.S. subsidies. Currently the U.S. produces only 1% of global\nlithium production, and no lithium production from hard-rock,\nspodumene deposits. The vast spodumene lithium deposits being explored\nand developed in Quebec, Ontario and Manitoba could be a ready source\nof raw material for the expansion facilities being planned by\nautomobile makers and battery plant companies.\n \n \n \n \n Recent industry direct financial participation in\nlithium projects has occurred, such as General Motors Co’s. (GM) US\n$650-million investment into Lithium Americas’ Thacker Pass lithium\nproject in Nevada. Governments have shown their commitment to the\nlithium mining sector with significant investments as shown by the\nGovernment of Canada into E3 Lithium Ltd. to advance Canada’s EV\nbattery production through the Strategic Innovation Fund’s Net Zero\nAccelerator initiative. Arbor anticipates that more EV lithium\nend-users, government subsides, and battery companies will contribute\ndirectly into project participation and/or financial support to\nlithium exploration companies. This represents a new alternative\nsource of financing for lithium exploration companies, and ensures a\nrobust lithium sector.\n \n \n \n \n The Company’s Jarn...

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