As the global adoption of electric mobility accelerates and more charging stations are deployed across the world, demand for copper will increase substantially over the next decade.
A report by research and consultancy group Wood Mackenzie states that more than 20-million electric vehicle (EV) charging points will be deployed globally by 2030, consuming more than 250% more copper than in 2019.
To meet these targets, the group says more private and public investment is required. Copper is used throughout an EV, but research analyst Henry Salisbury notes that the need for copper becomes even greater when charging stations and supporting electrical grid infrastructure are also considered.
“As it stands, range anxiety – worrying that a battery will run out of power mid-journey – is a key psychological barrier standing in the way of more widespread EV adoption.
One way to address this is to roll out more charging infrastructure. As this happens, more connections to the electrical grid will be required and more copper will be needed as the network expands,” he says.
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