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Global Energy Metals presents three-part series on the rise of Tesla

Tesla is world-renowned for its electric vehicles powered by lithium-ion batteries, of which cobalt is a key component

Tesla electric car
GEMC estimates that cobalt represents 40% of the total cost of a lithium-ion battery

Cobalt specialist Global Energy Metals Corp (CVE:GEMC) is partnering up with online publisher Visual Capitalist to present a three-part series detailing the rise of Tesla Inc (NASDAQ:TSLA) and the new energy space.

LOOK: Part 1 of the ‘Rise of Tesla’ series

With awareness of the harmful impact of greenhouse gases growing, GEMC says demand for cobalt – which is used in electric car batteries – is also on the rise.

In fact, cobalt is the top performing base metal so far in 2017 with the price more than doubling.

The metal is currently in a worldwide supply deficit due to the increasing demand and constrained supply, GEMC says.

The company has a cobalt footprint in Canada and recently added to that buy acquiring the Millennium cobalt project in Australia.

Shares opened 4.2% higher at C$0.12 on Monday morning.

Quick facts: Global Energy Metals Corp

Price: 0.24 CAD

Market: TSX-V
Market Cap: $4.41 m

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