Electric Cars Boost Metal Demand
According to Bloomberg, metals like nickel, aluminum and iron are all expected to see demand increase by 13-14 times between 2019 and 2030. This increase in demand can be directly traced to the outlook for electric vehicles over the next ten years, with vehicle battery output expected to rise by tens of millions. Other metals important to the creation of electric car batteries, such as lithium and graphite, are also expected to rise substantially in demand by around 9-10 times by 2030.
This demand in metals is pushing a rush from top mining and investment companies across the globe to invest in the acquisition of key materials primarily used in building electric car batteries.