Nickel and cobalt consumption in batteries increased 69% and 85% respectively in 2020, page-19

Thanks for sharing @zempheth.

Some key points from the note:

- The final point to note is that NPI production in Indonesia requires around 25,000 kWh of electricity tomake one tonne of contained nickel and all electricity for NPI is soured from burning coal (as it is inChina). Increasingly, there is a focus on delivering “green” nickel units to the electric vehicle makersand many existing and potential nickel producers are touting this as the main advantage of theirproducts.

- But the reality for the battery market is that there is simply not enough availability of “green” nickel tomeet projected demand over the next 5-10 years. Chinese EV makers are willing to use this productuntil a better alternative comes along. Recent comments by Elon Musk about using more non-nickel/non-cobalt battery technology in its EVs by switching to LFP batteries for some of its models isindicative of the real fear that companies like Tesla have over future nickel availability.

-Due to its superior properties in increasing the energy density of batteries (to increase the rangebetween charges) nickel-rich chemistries will remain the dominant technology for the foreseeable future.But the nickel industry is aware that there are alternatives.