Mexican Media Brands
BMW Says Its Battery Materials Demand Will Jump 10x by 2025
BMW AG tells reporters it is trying to finalize 5- and 10-year supply contracts for battery making materials as it readies a bevy of 25 electrified models by 2025.
#hybrid
Share
BMW AG tells reporters it is trying to finalize 5- and 10-year supply contracts for battery making materials as it readies a bevy of 25 electrified models by 2025.
The company tells reporters its consumption of cobalt for EV batteries will multiply tenfold by then. Other EV makers are in a similar predicament. Meanwhile, cobalt prices have more than doubled so far this year.
Bloomberg New Energy Finance calculates that a boom in EV production could push overall global demand for cobalt from less than 100,000 tons in 2016 to more than 450,000 tons by 2030.
Carmakers are rushing dozens of plug-in hybrid and all-electric models to market to meet fuel economy targets and government sales quotas over the next five years. But it isn’t clear how willing consumers will be to buy them.
RELATED CONTENT
-
Cobots: 14 Things You Need to Know
What jobs do cobots do well? How is a cobot programmed? What’s the ROI? We asked these questions and more to four of the leading suppliers of cobots.
-
Choosing the Right Fasteners for Automotive
PennEngineering makes hundreds of different fasteners for the automotive industry with standard and custom products as well as automated assembly solutions. Discover how they’re used and how to select the right one. (Sponsored Content)
-
Multiple Choices for Light, High-Performance Chassis
How carbon fiber is utilized is as different as the vehicles on which it is used. From full carbon tubs to partial panels to welded steel tube sandwich structures, the only limitation is imagination.
