Aheadoftheherd.com15 Dec 2019 19:18
Demand for battery metals strong despite weak EV sales
You would expect that, if EV sales drop, so should the demand for the battery metals that go into them - nickel, manganese, cobalt, aluminum, lithium, graphite, phosphate. In fact the opposite is occurring. According to Adamas Intelligence, the amount of nickel, manganese and cobalt used per NMC electric vehicle battery continues to rise despite weakened market conditions. EV sales are falling as the demand for EV battery metals increases? What gives?