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Elon Musk assures entrepreneurs that this new sector to invest “is like printing money”

todayJuly 27, 2022 1

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The tycoon and ‘richest man in the world’, Elon Musk, has launched a new message to encourage all entrepreneurs to invest in a sector and ensures that “it is like printing money”. The South African is again news after unleashing a legal battle with Twitter to back down in the purchase of the social network.

The invitation to invest in this niche of opportunities came last Wednesday at a results meeting. What is the big sector to invest that “is like printing money? The niche is about lithium refining business. It is a silver-white metal in its pure state that is used for the development of mobile phones, computers and even electric vehicles.

“I would like once again to urge entrepreneurs to enter the lithium refining business. Mining is relatively easy, refining is much more difficult,” he said. This sector, according to Musk, offers margins similar to those of software. Consider that entering this niche is like getting “a license to print money”.

According to the billionaire, owner of Tesla and Space X, the restrictions on the availability of lithium that have raised prices in general, are not the result of the shortage of raw materials, but the limited global capacity to deliver high purity battery grade hydroxide and carbonate to battery supply chains.

Musk said that lithium refining is “quite difficult and requires an enormous amount of machinery”. The demand for litho adapted for use in batteries has exploded this 2022, almost 400% in the last 12 months.

Written by: BayRadio News

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