A Focus on Exploration for High-Value Metals for EV Market
Before the global financial crisis disrupted the automobile industry, as well as every other industry, electric vehicles rapidly became popular. For the first time, cumulative yearly revenues of battery electric vehicles and plug-in hybrid electric vehicles surpassed two million vehicles in 2019. This much-anticipated milestone could have been overshadowed by economic uncertainties and shifting consumer priorities, but it is still worthwhile to assess the electric vehicle market now. According to Deloitte, the total EV deals are supposed to improve from about $2.5 million in 2020, then nearly $11.2 million in 2025, and reach approximately $31.1 million by 2030. (1) Learn more and explore the future of mobility by looking forward to an efficient lithium and nickel mining industry!
Electric vehicles (EVs) and hybrids are the future’s new mode of transportation, but transitioning away from our current reliance on internal combustion engines would require safe, domestic sources for several other critical minerals, such as rare earth metals. While the future of electric vehicles and other green technology seems promising, relying on foreign sources for these vital minerals generates enormous geopolitical and economic risks that policymakers must address by developing domestic production. Passenger electric vehicles constitute an improving portion of the vehicle market, with approximately more than 354,000 EVs have been put into the market in 2018. However, without enough supplies of minerals such as nickel and lithium, this potentially $3 trillion EV industry might come to a halt. (2) By letting today’s insights fuel the journey for the next generation, we could improve beyond the obstacles of what the global crisis has brought and toward a future where EVs take center stage!
A reduction in fuel use could also have significant operational benefits. The lithium and nickel mining industries, for example, aspire to produce a modern, green, and highly efficient mining industry, much like the modern, green, and energy metals industries themselves. These industries could operate in tiny, modest, yet modern environments with few nonrenewable resources. Exploration focusing on high-value metals such as precious metals and energy metals, notably nickel and lithium metals, might potentially lead to a bright future in the new global economy, both in the short and long term. Nickel is making a vital contribution to the lithium-ion (Li-ion) batteries that power much of the electric vehicle revolution. Discover how nickel-lithium batteries potentially help deliver higher energy density and greater storage capacity efficiently! Check the disclaimer on my profile and landing page.
Source 1: https://www2.deloitte.com/us/en/insights/focus/future-of-mobility/electric-vehicle-trends-2030.html
Source 2: https://www.realclearenergy.org/articles/2019/03/14/the_future_of_electric_vehicles_depends_on_stable_us_rare_earth_minerals_production_110405.html