That’s reflected in the price of battery raw materials, including cobalt, nickel and lithium, all of which are rising on the tide of the present commodity rally. First, demand for batteries is all about electric vehicles. Around 90% of battery demand will come from electric vehicles (EVs) over the next two decades. Third, nickel, manganese and cobalt (NMC) batteries will be the dominant chemistry for the next decade at least. Fourth, supply of key battery metals needs to develop to meet the transformational demand from EVs.

Source: Forbes February 18, 2021 12:45 UTC