As Tesla Ponders Mining Business, Get Lithium Exposure With This ETF

It’s already well-known that Tesla CEO Elon Musk’s tweets can move markets. One of his latest tweets could provide insight on what venture he may be undertaking next, which relates to lithium mining.

The push for electric vehicles is doing wonders for lithium investors. For lithium consumers, it’s a different story:

If Tesla does partake in lithium mining and exploration, it won’t be the first time the electric vehicle maker ponders taking on such an endeavor. Two years ago, the company was set to do just that — or so it seemed.

“In 2020, Tesla seemed ready to produce Lithium in Nevada,” a Teslarati article notes. “During Battery Day, Elon Musk told shareholders that Tesla acquired rights to 10,000 acres in Nevada, where Lithium could be produced. At the time, Musk claimed that Tesla would produce lithium from clay deposits using an internally-developed process.”

Getting Lithium Exposure

In the meantime, investors can get lithium exposure with the Global X Lithium & Battery Tech ETF (LIT) as prices continue to rise. LIT seeks to provide investment results that correspond generally to the price and yield performance of the Solactive Global Lithium Index. The index is designed to measure broad-based equity market performance of global companies involved in the lithium industry.

LIT gives investors:

  • Efficient access: LIT offers efficient access to a broad basket of companies involved in lithium mining, lithium refining, and battery production.
  • Thematic exposure: The fund is a thematic play on lithium and battery technology.
  • Exceptional performance: The fund is up over 140% the last three years.

LIT Chart

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