Hi, This morning I was surprised at a local news 'brief' about cobalt as a resource limiting EV battery production. It was an edited version of a CNN story. But I didn't see anything new in the story. I briefly suspected it was laying the foundation for 'child labor' cobalt mining stories. Searching for something else, I found this accounting using current battery technology and the metals and elements needed for a 100% EV future: As pointed out, when a mineral price escalates, new sources are found: http://www.ecobalt.com/projects/overview Bob Wilson
Just to touch on Tesla and cobalt, they mentioned on their analyst call tonight that Tesla has and continues to reduce the amount of cobalt in its batteries. Musk says they should be able to “get it to almost nothing.” Of course, if you reduce the amount per pack, but multiply the number of packs produced, they will for sometime still need cobalt in quantities that may not go below their current level for some time. It will help with the cost of the car, but it won't eliminate cobalt mining in the medium term.
NOTE: it is easier to listen at 75% speed. One take away is Tesla plans to be a major player in 'mid-size sedans.' Perhaps Ford agrees. Bob Wilson
And also, when sources for a particular material runs low, manufacturers find a way to use an alternative material. I wouldn't say this shouldn't be a concern at all, but in general, concerns about a shortage of one or another mineral used in making batteries are usually stirred up by those trying to sell speculative mineral exploration stocks and/or investments. This is particularly notable in all the online articles about a supposed coming shortage of lithium, which is downright ridiculous, because lithium is a common material, easily found. At worst, there might be a short-term shortage of cobalt, until new mines are producing and/or battery makers figure out how to use some other material to substitute for cobalt. The latter would be better, as cobalt is the most expensive material used in li-ion batteries. -
