"The news that carmarkers are shifting to electric cars is a good sign for cobalt, a key metal in the lithium-ion batteries used to power the vehicles. According to Benchmark, demand for these batteries will soar above 400 GWh by 2025. As the need for batteries increases, cobalt demand is also expected to jump. Analysts forecast that cobalt demand will soar from 46,000 tonnes in 2016 to 76,000 tonnes by 2020. Moreover, CRU Group analysts predict that in 2017 the deficit in the market could triple compared to last year."
