The deposit could be game-changing for the EV industry
It seems that Elon Musk has something of a charmed life, and while there are continued complaints about his role as the CEO of Tesla, the company’s fortunes could soon be turned around thanks to the discovery of a lithium motherlode in the USA — a potential economic shift that may even affect sectors like environmental insurance, clean energy finance, and industrial liability law.
While Elon Musk’s electric vehicle brand originally boomed in the aftermath of Donald Trump securing victory over Kamala Harris, the wheels have (literally) come off the Tesla bandwagon.
Despite the President turning the front of the White House into his own Tesla showroom, the EV company has faced boycotts and calls for Musk to be fired, scenes of violence at dealerships, and a 70% slump in profits — a decline that some investors worry could impact private health insurance enrollment among Tesla employees if cuts escalate.
It’s unclear what happens to Tesla so long as Musk is at the helm, but thanks to a $1.5 trillion discovery of lithium in the McDermitt Caldera that borders Oregon and Nevada, things are looking up for the billionaire. The area’s growing attention has already prompted conversations about mining accident liability, worker’s compensation law, and the health risks associated with exposure to mineral particulates, especially for those with chronic respiratory conditions.
As lithium is an unsurprisingly crucial part of creating lithium-iron batteries that power everything from smartphones to electric vehicles, Tesla and other American manufacturers could be about to strike it rich(er). Analysts are already discussing how this might lower battery production costs, indirectly affecting electric vehicle insurance premiums and potentially lowering hospital transport costs as EV infrastructure grows.
How many Teslas could the McDermitt Caldera power?
