EV Race Ignores Russian, Chinese Mineral Speed Traps

Posted: March 21, 2022 by oldbrew in Batteries, opinion, Subsidies, Travel, Uncertainty
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Beep beep! Trouble ahead for mineral-hungry EV producers, especially in countries that don’t want mining on their soil.

PA Pundits - International

By Larry Bell ~

Billboard size speed limit signs and flashing police radar scanning dashboard warnings be damned!

U.S. and European electric vehicle (EV) companies are racing to cash in on markets driven by dependence upon government subsidies which, in turn, rely on scarce and costly materials needed for batteries controlled by foreign adversaries.

Mining required for those EV batteries will soon dominate the world production of many critical minerals, and already accounts for about 40% and 25%, respectively, of all global lithium and cobalt.

Take nickel, for example, of which Russia produces about 7% of the global supply and 20% of the world’s class 1 (98% pure quality) used both for advanced electric vehicle batteries and stainless steel production.

In March, after prices soared 66% to more than $100,000 a metric ton, the London Metal Exchange suspended nickel trading after a three-month contract price more than doubled.

Prompted…

View original post 816 more words

Comments
  1. Gamecock says:

    “Climate change is real, and we want to be part of the solution by putting everyone in an electric vehicle.” – Mary Barra, Chair and CEO of General Motors

    “GM is on its way to an all-electric future, with a commitment to 30 new global electric vehicles by 2025.”

    “By mid-decade, we intend to sell a million EVs per year in our two largest markets”

    What GM is saying is that they expect to be out of business by 2030.

  2. Graeme No.3 says:

    That end may be sooner, given that the Biden (mal)administration is trying to get rid of reliable electricity generation and shoving up prices. So new car buyers are expected by GM to want a more expensive vehicle with less range which will only move when the wind blows.

  3. oldbrew says:

    They thought EVs meant the end of internal combustion…

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