Electric vehicles seen boosting nickel demand

The global nickel market stands to benefit in the coming years from the growing popularity of electric vehicles that use nickel containing lithium-ion batteries, according to Bank of America Merrill Lynch.

By a modest estimate, lithium-ion batteries could account for about 250,000 tonnes of nickel demand by 2030, analysts at the USA-based bank wrote in a January 11 research note. And with the auto industry “going through a period of profound change,” global electric vehicle sales could equal one-fifth of total global light vehicles sales by 2030, analysts said. While the six primary lithium-ion battery types do not all rely on nickel, the two that do—lithium-nickel-cobalt-aluminium oxide and lithium-nickel-manganese-cobalt oxide batteries—have become the most popular choice among all countries excluding China. China has largely...

Published

Millicent Dent

January 13, 2017

02:54 GMT