Ford's Announcement is Another Reason for Copper Investors to Smile Copper Components
”EV growth has brought a focus on demand for the elements used to produce batteries, such as lithium and cobalt. The focus should also be on how the onslaught of demand for copper will be filled. There are many competing tech revolutions increasing the demand for the metal. New needs for copper are coming from the growth of solar and wind energy, along with EVs and EV charging stations. As it relates to just cars, here’s how just one car changes demand. An average gasoline-powered car uses about 44lbs of copper, mainly as wiring. A hybrid car uses about 88lbs, and a fully electric car uses roughly 176lbs of the metal. As part of the increased demand, add about 45lbs for each charging point.”
”In all, 5 times more copper than a conventional gas-powered car is needed. Copper has the best conductivity of any non-precious metal and is being called upon to electrify the green renewable energy revolution.”
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