Once ‘green’ plug-in hybrid cars suddenly look like dinosaurs in Europe
European automakers are dividing over whether to fight for PHEVs, or spend their financial and political capital accelerating the leap to fully electric vehicles.
Benedikt Sobotka said that the surging price of the metal, which rose by 119% in 2021, was giving a very clear message: the market is severely short of cobalt, a key ingredient in the batteries that power EVs.
Unless there’s been a major decoupling of copper, zinc, nickel, aluminum prices and Chinese manufacturing activity, declines of as much as 40% may be in the offing.
Vulcan, which aims to produce lithium hydroxide from Germany's Upper Rhine Valley, has already inked supply deals with Volkswagen and Stellantis among others.