Electric car manufacturers scramble for cobalt and lithium resources.

There are two main types of electric cars: motors and batteries. The motor does not have any complicated components. But back in the manufacture of batteries that require significant amounts of cobalt and lithium. These metals are all from mining. The use of natural resources. And when electric cars are the future. Car manufacturers are trying to find the necessary minerals to own as much as possible.

Tesla is a major player in the electric car market. In December 2017, it was reported that Elon Musk, the company's CEO, traveled to Chile. But do not tell the purpose. However, it is known that Chile has a very large lithium mining business. It is believed that Chile has the most lithium mineral in the world. The reason that Elon travels inevitably negotiated the purchase of lithium to produce batteries for electric cars.



Volkswagen has announced that it will produce 3 million electric cars a year by 2025. It has been open to various mineral manufacturers. Send an offer

The price of lithium has increased more than doubled in the past ten years. Cobalt prices have tripled over the past three years, suggesting that the uptake of natural resources for car batteries is intensifying. And if there is no new battery technology in the future. Prices of both minerals are likely to rise.