THERE is agreement that battery metals of all stripes will benefit from the adoption of electric vehicles (EVs). According to a report by Morgan Stanley, the EV market will take a 26% slice of the total automotive market by 2030 from 3% today.
The question, however, is that given the pace of scientific development, which metals with battery application today will come to dominate in the future?
There are divided views, however, on the extent to which price changes will influence the usage of two key contenders: nickel and cobalt.
There are a host of battery technologies under development including NCM (nickel, cobalt and manganese) battery whilst its long-time rival is the lithium iron phosphate (LFP) battery.
Car technology company Tesla is developing a LMNO (lithium, manganese, nickel oxide) battery which it hopes to commercialise by 2022/23, whilst Johnson Matthey and BASF, the German chemicals giant, are developing a lithium nickel oxide battery.