Mexican Media Brands
Nickel Prices Zoom on Promise of Future EV Demand
The prospect of a massive shift to electric cars is fueling a surge in the price of nickel used to make the batteries that power them.
#hybrid
Share
The prospect of a massive shift to electric cars is fueling a surge in the price of nickel used to make the batteries that power them.
Prices have climbed 25% so far this year—including a 9% jump in the past two days—to a two-year high of about $12,800 per metric ton, Bloomberg News reports.
Analysts expect traders will continue to drive up the price because nickel sulfate is a critical ingredient in lithium-ion batteries, the present storage system of choice for EVs and plug-in hybrid powertrains.
No one expects a sudden spike in demand for EV batteries anytime soon. But with virtually every major carmaker declaring plans for new EVs and plug-in hybrids, forecasters expect nickel consumption will begin to surge by about 2020. Bloomberg predicts EVs will account for more than half of new-car sales worldwide by 2040.
RELATED CONTENT
-
On Electric Pickups, Flying Taxis, and Auto Industry Transformation
Ford goes for vertical integration, DENSO and Honeywell take to the skies, how suppliers feel about their customers, how vehicle customers feel about shopping, and insights from a software exec
-
Things to Know About Cam Grinding
By James Gaffney, Product Engineer, Precision Grinding and Patrick D. Redington, Manager, Precision Grinding Business Unit, Norton Company (Worcester, MA)
-
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)
