Electric trucks will increase the demand for nickel and cobalt

       It is reported that Tesla plans to launch a fully electric large drilling rig to rekindle the metal demand for battery. Financial institutions, including Goldman Sachs, UBS and Bank of America, have predicted a substantial increase in metal demand like nickel and other batteries over the next 10 years. The demand for battery metals will increase more if the electric trucks proposed by musk use power batteries to replace diesel engines.

27 co investment company (Cobalt 27 Capital) president and CEO Anthony (Anthony Milewski) found the Miller said, this is a technical revolution, it also brings opportunities for the cobalt market, due to the expected good prospects for the development of electric vehicles over the past year, cobalt prices soared.

The price of another metal nickel, which is related to power battery, has increased 15% this year. Although it has been callback from the price of 12920 yuan / ton, it still stands at 11000 yuan / ton.

Some are happy with a few worries. Electric trucks are not good news for some other metals such as palladium. According to the Bank of Holland, palladium consumption to be used as a catalyst for automobile exhaust will drop by 90% in 2040 if the sales of electric vehicles are rising.

However, the challenge for Tesla is to reach its production goal, and if the large electric drill is developed successfully, its production is facing greater challenges.