Electric vehicle demand will double #Nickel price – as soon as 2022
#Nickel, #Manganese and #Cobalt (NMC) batteries are favoured by most of the world’s automakers and the industry is hard at work to reduce pricey cobalt loadings in favour of greater use of nickel.
Light passenger EVs using batteries with a 8:1:1 NMC ratio, which should become widely deployed over the next decade, require roughly 52 kilograms of nickel. Last year 3 million battery electric vehicles were sold. By 2025 battery electric vehicles could reach nearly 15 million unit sales with plug-in hybrids accounting for an additional 10 million vehicles.
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