WIll Tesla’s Gigafactory Boost Lithium ETFs?

Since the selection of Nevada as the home for Tesla Motors Inc.’s (NASDAQ:TSLA) gigafactory, lithium ETFs are also reveling in the good news.

According to Zacks.com:

With this new plant, Tesla will likely be a voracious user of Lithium. The factory’s huge capacity will let Tesla manufacture about 500,000 electric cars every year by 2020. In a nutshell, from all production aspects, Lithium will likely be in focus in the days to come.

As per Signumbox , lithium demand has been increasing at over 10% every year. Electronic gadgets are run on batteries, 95% of which are lithium based. Given this trend, an equity exposure on lithium producing companies is worth a look.

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