International Lithium’s Kirill Klip on the future of electric cars
March 14, 2018 — “Because I am not talking about 2% of electric cars being sold worldwide, and we are just closing on that number only now, I am not talking about 5% or 10%. I am in this business because I know all cars will be electric.” says Kirill Klip, CEO, President and Chairman of International Lithium Corp. (TSXV: ILC), in an interview with InvestorIntel’s Jeff Wareham.
Jeff Wareham: Kirill, lithium has been all over the media in the last little bit, all kinds of bullish sentiment and then we had the report last week. What are your thoughts on the most recent report that claimed that the lithium market was oversupplied for hundreds of years to come?
Get our daily investorintel update
Kirill Klip: Thank you Jeff. Thank you for having me today. As you know, I am quite active in my social sphere with my blog and everything. I called this SQM lithium oversupply scare 2.0 because I still remember 1.0. I still remember when we all gathered in Las Vegas. It was the second lithium supply and demand conference. Three big boys at the time, one was SQM, they were talking, we can supply lithium for 1,000 years. Now, as you know, the first shot across the ball was made in January with the report of one Australian bank, I will not go in a lot of details here, when they scared all the market again, now SQM has a new license and maybe they can produce 216,000 tons of lithium carbonate equivalent, LCE. To put things into perspective UBS now estimates that annual demand for lithium will be over 1 million tons for lithium, LCE, after 2026. Then we can move, of course, to the Morgan Stanley report which basically just picked up the same story one month ago. Now they scared all the market with additional supply, which still has to materialize, of just over 200,000 tons or maybe in total half a million tons of lithium.
Jeff Wareham: Alright Kirill. Thank you for clearing that up a little bit. It is great to get some color on it. How does that impact International Lithium?
Kirill Klip: As all junior mining companies, we had a very healthy correction. I will call it like this because in the investment world the entry point is everything because we always remember the very famous sentence, which is very difficult to implement in real life. Buy low, sell high. Now a lot of investors who really would like to study this market, they have a great opportunity to enter this market at a much better level. I can tell you why I am not personally scared, why I have just invested again in International Lithium in the latest round of our financing. Because I am not talking about 2% of electric cars being sold worldwide, and we are just closing on that number only now, I am not talking about 5% or 10%. I am in this business because I know all cars will be electric. I can talk forever. You will stop me at the right moment. Because now, just a few days ago, the high court in Germany allowed German cities to ban, I call them, die-sel cars. I call them die-sel, not diesel because we are dying because of them. Now who in their right mind will buying any die-sel car because you will never be able to sell it. All cars will be electric much faster than a lot of people will be anticipating it. I am investing in my big picture when we will have to produce, wait for it, 100 million tons of lithium by 2050…to access the complete interview, click here
Disclaimer: International Lithium Corp. is an advertorial member of InvestorIntel Corp.
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.