Battery

Commented by Mario Hose on September 14th, 2020 | 04:50 CEST

BMW, Daimler, Tesla - Share price boost for Giga Metals and soon Defense Metals?

• Battery

The Giga Metals stock closed Friday with a 184.5% gain, providing investors with a pleasant surprise at the end of the week. Behind this rise in the share price is the rumor that the U.S. carmaker Tesla wants to purchase part of its nickel and cobalt requirements for the production of batteries from environmentally friendly sources in the future. Not only does Giga Metals have large quantities of these raw materials, but it also has potential access to hydroelectric energy to make its mining environmentally friendly. By sourcing from Canada, Tesla would have the opportunity to reduce its own carbon footprint.