Availability and Price of Cobalt and Lithium Unlikely to Pose Problems for Electric Vehicle Deployments

SUGAR LAND--July 9, 2018--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Sharply rising demand for electric vehicles has, over the last two years, pushed up demand and prices for cobalt and lithium, critical elements of electric vehicle (EV) batteries. Predictions about strong future growth of EVs have caused some to worry whether the future supply and price of these two minerals could become a limiting factor in future EV deployments. Recent research from BP plc (NYSE:BP) (London, England) and McKinsey & Company (New York, New York) suggest these concerns are overblown. Within this article: Details of some of the challenges faced in the cobalt and lithium markets