Pt
The electric vehicle (EV) sales market is rapidly evolving, and automakers are scrambling to deliver EVs with sleek design, power, and in the long-run - autonomy. The goal is clear: to enable transport of people in a cleaner and greener world.
Many countries are promoting the electrification of the vehicle industry to reduce greenhouse gases. Examples include China, the United Kingdom and Norway, which had in 2019 for the first time the number of EVs sold surpassing that of traditional vehicles. In China, the increase in sales of EVs in 2018 was 61.7% higher than 2017.
An important part of EV adaption is the advancement of EV battery technology. Challenges for the industry include battery life, charge time, power, and maintenance costs and the world is currently witnessing technological advancements in batteries occur at a rapid pace.
Today the production of EVs relies heavily on important raw materials, including nickel, lithium, copper and other related minerals. Many EV producers are already turning to the NMC batteries with 80% nickel to reduce reliance on other metals and to improve the battery technology.
Formula-E is also grabbing headlines. Conceived in 2011, Formula-E launched in Beijing in 2014 and features EVs that reach speeds of up to 300km/hr, with all vehicles using the same lithium-ion battery technology. McLaren Applied Technologies has been contracted by Williams to supply the batteries, and they have created a battery which almost doubles the usable energy of previous batteries to 54 kWh, so that EV drivers can complete the entire race in one car. According to a report published by the Nickel Institute, this technological breakthrough is thought to be the result of improved battery energy density using more nickel, with the chemical composition 8-1-1, using eight parts nickel for each part cobalt and manganese.
But it’s not just Formula-E where EVs are outperforming all expectations. Volkswagen’s electric vehicle ID.R beet a 20 year record at the Goodwood Festival of Speed this month in England (July 2019) setting a new record of 41.18s, beating the previous record of McLaren’s Formula-1 car (41.6s).
It is clear that the EV adoption is inevitable and exciting times lie ahead for the industry and the raw materials that will feed its development.
Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil. The Company is positioning itself as the nickel investment of choice. We are developing the Araguaia project, as the next major ferronickel mine in Brazil, and the Vermelho nickel-cobalt project, with the aim of being able to supply nickel and cobalt to the EV battery market. Both projects are 100% owned.
Sources:
