China's Contemporary Amperex Technology (CATL), the world's biggest EV battery maker, counts BMW BMWG.DE, Volkswagen VOWG_p.DE, Daimler DAIGn.DE - which makes Mercedes cars - Volvo, Toyota Motor Corp 7203.T and Honda Motor Co 7267.T among its customers.

According to REUTERS:

CATL is now developing a new EV battery with no nickel and no cobalt.

Nickel and cobalt are key ingredients in the batteries that power EVs. Battery makers from Japan’s Panasonic Corp to South Korea’s LG Chem are lowering the use of expensive cobalt in their nickel-cobalt-aluminium (NCA) batteries or nickel-cobalt-manganese (NCM) batteries.

The new battery type will be different from existing NCA, NCM and LFP batteries and will have no expensive metals like nickel or cobalt, Meng Xiangfeng, a senior executive at CATL, told an industry conference held by the China Association of Automobile Manufacturers in Shanghai.

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This is all over the press the last 3 months.

Granted this may not happen overnight - but neither will we be in full production till at least 4-5 years from now!

Surely when the worlds buggest EV battery maker speaks - we better listen!

Are we in trouble here guys????