Electric vehicles to grow battery market tenfold by 2025, UBS says

摘要

The global market for electric vehicle batteries in 2025 could be 10 times bigger than in 2018, according to a report by Swiss investment bank UBS published last week.This should help to increase lithium demand by as much as four times, to drive a 41% increase in nickel consumption, and to more than double the use of cobalt over the same period, the report added.These three metals are the ones most commonly used in battery production. The expected growth in demand for this particular use has prompted some price estimates to rise significantly in the past few years, although the prices for all three metals have actually come down this year.