Electric trucks will drive demand for nickel and cobalt surge

       It is reported that Tesla plans to launch all-electric large rig, once again blasting battery metal demand. Financial institutions, including Goldman Sachs, UBS and Bank of America all predict that the demand for battery metals such as nickel will rise dramatically in the next 10 years. If Musk's electric truck powered battery to replace diesel engines, then the battery metal demand will increase even more.

Anthony Milewski, president and chief executive of Cobalt 27 Capital, said this is a technological revolution as well as an opportunity for the cobalt market as the outlook for electric vehicles is expected to be good The price of cobalt soared sharply in the past year.

The price of another nickel metal battery related to power batteries has risen 15% this year and is still above $ 11,000 / tonne, although this month's callback from the $ 12,920 / tonne price.

Few happy few worry, electric trucks for palladium and other metals is not good news. According to the forecast by ABN Amro, if the sales of electric vehicles climb, the amount of palladium used as a catalyst for automobile exhaust will be reduced by 90% by 2040.

However, Tesla's current challenge is whether it can meet its production targets. If large-scale electric drilling rigs are successfully developed, their production challenges will be even greater.