GM Beats Wall Street, 19 Million Tons of Lithium, Air Taxis Cleared For Takeoff

Kyle Mountsier  0:09  
Good morning, Wednesday, October 23 Paul, still, I don't even know where. So I got Jordan hanging out next to me, and we're talking about GM, tons of lithium and air taxis clearing for takeoff.

Unknown Speaker  0:22  
There we go.

Unknown Speaker  0:26  
They stopped this day with me. Hit

Kyle Mountsier  0:27  
the drop Hump Day. Jordan, right on hit the drop on hump day. How you doing this? How you doing this? Wednesday?

Jordan Cox  0:35  
Oh man, beautiful morning. Weather's perfect here. So supposedly it'll be good for another couple days in our area. Not sure about for you guys, dude, there's something

Kyle Mountsier  0:43  
there. Well, a couple things about your area. One, the fact that, like yesterday, I was watching the news, and apparently, like 300 million people in the US are going to be experiencing all time highs this week. For this week, yeah, like, I mean, it's only like three or four degrees, sure, in most places, but it's like the majority of the lower 48 will be experiencing highs weather. So it's like this gorgeous, weird late fall thing. But even better than that is next week, we are going to be very close to your area, recording the first of our recordings of more than cars Season Two at roarman. And I am pumped to be in your area of the world for that. How long

Jordan Cox  1:32  
has it been since you've been in Central Indiana? Indiana Kyle.

Kyle Mountsier  1:37  
Not long enough. I could, I could stay away, dude. I so many people may not know this, but I went to school in Central Indiana, and, like, the drive from Cincinnati to Central Indiana, there's basically two ways to get there, and none of them are straight, but right, because there's no, like, just clear cut way to get there from where I lived but I will tell you, once you hit Indiana, crossing the border from Ohio to Indiana, it is everything, at least, is straight. There's no curves. They don't allow curves, and there's only corn fields on either side. It's just, like, a full run of it. Yeah, that's

Jordan Cox  2:15  
right. It's like, that's like, perfect Indiana style is you get corn fields soybeans. Now most of the corn fields are gone, even the late stuff, they've already went through and plowed. But, man, I'm looking forward to seeing Ryan rohrman, Trey, having you meet a lot of the team for the first time. Like this is, this is the third or fourth or fifth time I've seen some of these people, but for you, I'm just excited for you to officially meet some of them. Yeah, I

Kyle Mountsier  2:37  
met Ryan. Dude is a beast, that dude, I'm telling you what, he works out on the road like three times a day. I'm convinced, yeah. So, yeah, exactly, yeah. Hey. So today, if you don't know and you haven't heard, we're doing a quick shot webinar, Edge webinar, at 2pm Eastern, with a mall, a full throttle AI all about finding your shoppers using free TV. I keep saying it like that free TV, because it's, I think it's just a conversation we haven't had, but you're gonna want to go to asotu.com, scroll down just a wee bit, register for that. Even if can't make it that way, you get the recording. Yeah, you know the replay. Yeah, that's all I got. Speaking of recordings, we're rolling right into it. And GM has recorded their q3 earnings, and they beat their estimates, with shares surging 8% continued strong demand for trucks and SUVs have driven the growth, while GMs revised 2024, profit indicates industry resilience despite ongoing economic pressures, their adjusted earnings per share were at 296, surpassing the expected 243 revenue hit 48.8 above a billion, outpacing forecasts of 44 point 6 billion, and their stock jumped to a two and a half year high, which is pretty impressive house how high stocks have been to $53.25 on their stock valuation. Um, CFO Paul Jacobson said the consumer has helped, uh, has held up remarkably well for us. So they're saying like, hey, demand seems to be there in q3 of this year. Yeah. So

Jordan Cox  4:13  
with GM as a whole, one of the things that they made a bet on a couple years ago was introducing a lot of the EV lineup, but also giving refresh and refresh lineup to their existing models. So like Chevy, for example, they've done a great job at saying, Hey, we're still going to have the best trucks around, and that's why the Sierra, the Silverado, they're still right there with the let's

Kyle Mountsier  4:37  
see. Can you guys hear me?

Unknown Speaker  4:38  
Yeah. Can

Kyle Mountsier  4:42  
you hear Jordan? Yeah, I can hear Jordan. I can't hear anyone, which means my rodecaster Can't hear anyone either. It's a good thing we're just recording.

Jordan Cox  4:54  
No, I think that's what works out really well for GM. So they made this bet a couple years ago. Well, Chevy. Specifically that they're still going to produce these really good models for their gas lineups. So yes, they have great EVs. Yes, they have great gasoline lineups. I think of their truck. I think of the Silverado. I think of Sierra, and how that lines up with the f1 50. And that's why, a few months over the last two years that these Silverado has been the best selling truck over the f1 50, there's just been a lot of intentionality that is built up over the last couple years to get to where they're at. I mean, what's your take on that? Kyle, yeah,

Kyle Mountsier  5:26  
no. I mean, I think the the smart move that GM made early this year was to realign their manufacturing process to make sure that they were balancing against their EV push, yeah. And you know, we're seeing that in the results of GM dealers. And you know, one thing that I'm that I, you know, I hear a little bit of issue with their GMC trucks right now, as far as, like, demand, you know, but on the Chevy side of things, you know that they're obviously winning, and, like, it's proving out that, like the consumer demand is there for the margins and the profitability, and the shareholders are responding so doing something, right? And that's good for the overall industry, because they're a massive part of the overall US market share. Yeah,

Jordan Cox  6:14  
exactly. And everybody wants to buy their shares. That's why shares are up, right? Yeah, exactly. Well, speaking

Kyle Mountsier  6:19  
of massive stuff. So some researchers have found that Southern Arkansas, smack over formation, may hold up to 19 million tons of lithium enough to meet global demand for car batteries nine times over by 2030 This discovery could have a significant impact on the EV market. The lithium is estimated to make up 36 to 136% of current US reserves. So they're still not exactly sure what their reserves versus the thing is, Exxon Mobil aims to start lithium production by 2027 supplying enough for over 1 million EVs annually by 2030 they're using do direct lithium extraction technology. Say that 18 times fast, it could be more environmentally friendly, but remains largely, largely unproven. Catherine, Nino, I'm gonna like go silent K. There's a silent K on the beginning of that. A hydrologist and the studies principal researcher estimates there's enough dissolved lithium present in that region to replace US imports of lithium and more, which is a massive deal, also still wild that it's only nine times the global supply by 2030 which is still if you multiplied that by nine years, and there was no growth or 9x and there was no growth, would still be concerning as to how much lithium supply we need in the world, yeah. But you know, a big fine for homegrown lithium production, yeah.

Jordan Cox  7:50  
And with GM. So GM actually not that far from where I live. They were working on, they still are working on, building their fifth lithium plant for actually creating those battery packs. So one thing that was missing, not like a whole lot, but one thing that they were trying to figure out in the supply chain was where they're going to source these, not only for the next five years or 10 years, the actual lithium itself, but where that's going to be the next 15 or 20 years. And my guess is that this is going to make a huge impact to the five and now going to be six factories for those lithium battery plants for GM and LG and Samsung through that joint venture.

Kyle Mountsier  8:27  
Yep. Yeah. I mean, this is, it is a big deal to kind of have lithium discovered in in the US and on home soil, because that import, export type stuff is, is a big deal. And obviously, bunch of bunch of manufacturers looking for where they're going to get the supplies for this new thing that they've never had to deal with as part of their manufacturing process and supply chain management. So we'll see how that goes. Yeah.

Jordan Cox  8:52  
I'm looking forward to seeing where it goes, Yeah, speaking of

Kyle Mountsier  8:55  
seeing where it goes, yeah. So the FAA has released long awaited final regulations for electric vertical takeoff and landing, or Eve tall or evtol. You know, people say a different aircraft, marking a major step toward the future of air travel, including air taxis and cargo delivery. It is obviously the new first new aircraft category since helicopters in 1940 and there's been a long awaited kind of hope for these new regulations. Pilot Training will include single flight control for powered lift aircraft, simplifying instruction. And industry players like Joby aviation and archer plan to launch their air taxi services soon, with Joby CEO praising the FAA for delivering the new regulations ahead of schedule. That's kind of impressive thing, little government thing ahead of schedule. FAA administrator Mike Whitaker said this historical will pave the way for accommodating wide scale advanced Air Mobility operations in the future Jordan. I can see you getting your EV time. Paul pilots license. Like, that's a thing you would do.

Jordan Cox  10:02  
What's funny is, someone sent me, it must have been Paul a few weeks ago. There is a single person Evol vehicle that you can buy. It's like a go kart, but as a as a helicopter that you can actually fly, yeah, so silly. And the soonest you can get one is, I think it's 2036, because it's still, like, two years out. So,

Kyle Mountsier  10:23  
oh my goodness. What

Jordan Cox  10:23  
work? What works so well in this is the battery range for either for like an airplane or for a helicopter is, let's say I think it's 200 miles because of the battery consumption that can take place, right? And the way, what's gonna Yeah, and what works really well is when you do the short range taxi part of it, because there's a lot of people that still use helicopters to get from a very close point to somewhere else. I think of metro areas like DC, New York City, they do that a lot, and it's a huge industry for helicopters. So this is a great way to introduce that, just like the FAA president said, is it's this is the first step in that I'm all

Kyle Mountsier  11:01  
about it personally, like that 45 minute drive that you you know, especially like business travel, when you're flying into a place and you need to get 45 minutes quick to a meeting, something like that. I'm all about this as an opportunity and and I don't know if I'll be the first one to jump in one, but I'd definitely be a fast follower. And it's cool, because, like, people need to sell these things, right? And if I had to guess, there's going to be some dealers that are going to be knocking down the doors of these manufacturers trying to figure out how they can sell them. I mean, I mean, last week, when we were at CMA, Liza was like, I don't know what mobility is going to look like, but we're going to serve the mobility needs our community. Yeah? So this is just another way where, hey, look, be paying attention to this vertical, because it could be an opportunity for dealers everywhere to get in.

Jordan Cox  11:50  
Yeah. I think Eliza man, they were basically selling horse and buggy 100 years ago when they first started. Right? What do they sell in the next 100 years? Mobility, time and convenience. There

Kyle Mountsier  12:01  
you go. Hey, we're mobility providers. You know what I mean, fam. Hey, today, go out there. Love some people, search some people, service, drive, sales, anything. Love some people more than you love cars. Let's go.

Unknown Speaker  12:15  
You

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