With increasing economic pressures and declining sales of Tesla electric vehicles, Elon Musk may be forced to sell some of the company’s bitcoins as his own stock. Experts believe that the shortage of lithium batteries around the world is one of the main factors that has put pressure on electric car companies.
to the Report UTODY, the problem of a possible shortage of lithium batteries used in the production of Tesla electric vehicles, may halt Elon Musk’s plans to offer a $ 25,000 electric vehicle; An event that may slow down the sales of the company’s other cars in the future.
According to GlobalData, given the growing demand for environmentally friendly vehicles, electric vehicle manufacturers operating in Western countries are likely to supply lithium-ion ores in the near future, which will be used to make electric vehicle batteries, according to GlobalData. Have a problem. According to the report, production of electric vehicles is projected to reach 12.7 million units per year by 2026, and most of them will be produced in China.
Further research, meanwhile, shows that rising production and demand for electric vehicles will ultimately lead to higher battery prices, lower profit margins, and lower hopes of $ 100 per kilowatt-hour. Without these cost-effective rechargeable batteries to accelerate the process of producing and selling electric vehicles, it is likely that we will be left with only one “green dream” instead of becoming competitive in this area.
The International Lithium Association states on its website that natural lithium ores are almost abundant and are found in many countries, including Australia, Argentina, Bolivia, China, Brazil, Zimbabwe and Portugal. Raw lithium is produced on a large scale in these countries, however, there are problems in the process of producing and converting raw materials to usable lithium in batteries, and it takes several years to reach full capacity.
Problems with lithium production, on the one hand, and rising demand for electric vehicles, on the other, are driving up the price of the mineral and ultimately restricting sales to customers.
But how can these conditions affect bitcoin? Tesla is the second largest public company after MicroStrategy to have the most bitcoins on its financial balance sheet. It is possible that Tesla will be forced to sell part of its 48,000 bitcoins worth $ 3.17 billion due to declining sales of electric vehicles.
Tesla sold 10 percent of its bitcoin stock last summer to repay short-term debt. Elon Musk also sold a 10 percent stake in Tesla a few days ago, causing the company’s stock price to fall more than 15 percent. Not surprisingly, Elon Musk wants to sell a large portion of his fortune out of personal preference, especially if he thinks that electric cars are his personal interest and that digital currencies are more of a hobby.