There is a new major application that will only increase the demand for platinum and that is in the automotive industry in which platinum demand will increase substantially. That is the bridge between modern gas-powered engines into electric vehicles, platinum is being researched to help make batteries more capable of meeting demands of transportation. Also, as a medium hybrid diesel engine which produce much less greenhouse gasses. Another type of engines has seen an increased growth especially in China. According to Trevor Raymond director of research at the World Platinum Investment Council, “Currently, most battery electric vehicles are no cleaner than an efficient modern diesel. Fuel cell electric vehicles are a very clean transport alternative, that will contribute to reducing global warming, when fuelled with green hydrogen. This technology depends upon the use of platinum.” According to Reuters platinum has now risen to a six-year high this based upon the assumption that there will be a robust auto recovery after the pandemic sides. Platinum jumped over 3% yesterday and gained almost 2% in trading today. QUOTE Demand growth anticipation IMO
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