Our forecast incorporates an aggressive 70% penetration of EV...

Our forecast incorporates an aggressive 70% penetration of EV cathodes will be nickel heavy NMC 811 by 2030F). BYD, one of the largest battery makers, is planning to push out an LFP battery design (aka “Blade technology”). The low energy density of LFP (NMC 811 has approximately 1.5x the energy density of LFP) makes weight a significant barrier as demands rise. LFP cathodes will tend to dominate low range and low cost vehicles, typically focussed on a segment of the Chinese market. As pack costs of NMC 811 are only 8-9% higher than LFP, a mature market share of ~15% will be difficult to increase without substantial breakthroughs in energy density. For PHEVs where energy density is less restrictive, cobalt- nickel free LFP batteries are expected to remain more dominant.Cobalt remains a critical material, substitutes are available for most but with loss of performance QUOTE
COB is well placed in the supply of cobalt in the future IMO.

https://www.cruxinvestor.com/articles/the-ultimate-guide-to-the-cobalt-market-2021-2030f