Battery materials cobalt, nickel face supply crunch by mid 2020s -WoodMac | Cornish Lithium Ltd
17326
post-template-default,single,single-post,postid-17326,single-format-standard,ajax_fade,page_not_loaded,, vertical_menu_transparency vertical_menu_transparency_on,qode_grid_1300,hide_top_bar_on_mobile_header,qode-theme-ver-10.1.1,wpb-js-composer js-comp-ver-5.4.5,vc_responsive
 

Battery materials cobalt, nickel face supply crunch by mid 2020s -WoodMac

LONDON, July 24 (Reuters) –

  • Consultants Wood Mackenzie estimate electric vehicle (EV) sales including hybrid electric vehicles (HEV) were up more than 24% last year
  • Wood Mackenzie expects global electric vehicle sales with a plug to account for 7% of all passenger car sales by 2025, 14% by 2030 and 38% by 2040.
  • Battery materials — cobalt, lithium and nickel — could face a supply crunch by mid 2020s.
  • Cobalt market will see an oversupply of intermediate products such as hydroxide until at least 2024.
  • Battery sector will make up more than 80% of total lithium demand by 2030.
  • Investment in new nickel projects is hindered by low prices, but needs to start now as mines can take up to 10 years to develop. (Reporting by Pratima Desai; editing by Louise Heavens)

Read original article here.