Big Tech and Auto Battle for the World’s Cobalt Resources
Elementum
MARCH 27, 2018
In 2006, lithium-ion batteries consumed only 20% of the global cobalt supply. Cobalt demand will exceed supply by 42% in 2025 and 170% in 2030. Volkswagen recently announced plans to invest €34 billion ($42 billion) in battery-powered cars by 2022. Ten years later, that number has more than doubled. Demand Intensifies.
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