By equipping mass-market EVs with smaller batteries, carmakers can keep their requirement for cobalt - and exposure to rallying prices - in check, Origuchi said, speaking at the Advanced Automotive Batteries Conference in Mainz, Germany.
Cobalt prices have soared over the past year in response to forecast demand from the EV sector and anticipated supply tightness for the battery raw material. Metal Bulletin assessed low-grade cobalt prices
at $37-38.40 per lb in-warehouse on Wednesday January 31, up 119% year on year.
“It’s a question of cost but also [managing] a risk of material shortage,” Origuchi said.
According to forecasts used by Renault, 10 million electric vehicles will...