01 Sep 2021
Posted in Business Fundamentals
Electric vehicle revolution to underpin metals demand, says GlobalData
As several countries have committed to bring in cleaner fueled cars in a bid to reduce dependency on fossil fuels, the demand for electric vehicles (EVs) is quickly gaining attraction in automotive markets around the world. This shift towards electrification is now propelling the mining and power companies to extract the essential metals used as inputs of EVs. As a result, influencer conversations related to metals around EVs rose over 400% during the last seven months (January-July) in comparison to previous seven months, finds GlobalData, a leading data and analytics company.
Smitarani Tripathy, Influencer Analyst at GlobalData, comments: “The top keywords among EV conversations of influencers included ‘Mining’, ‘Metals’, ‘Clean Technology’, as well as ‘Investment’ and ‘Climate Crisis’ are corresponding with the rising demand of metals used in EVs.
“Following the top influencers, which includes not only industry experts, but also journalists and business professionals, helps in tracking the popular and emerging trends of the industry on a regular basis for better informed decision-making in the field of EVs.”
Copper, lithium, cobalt and nickel were the most discussed metals among the influencer conversations on EV topic on GlobalData Social Media Analytics Platform during January-July 2021 while metals like neodymium (a rare earth metal), aluminum and zinc have emerged as new trends during the same time period when compared with previous seven months.
Several influencers believe that the demand for key metals like copper, lithium, nickel required to produce EV batteries will further propel as the consumer awareness shifts to EVs. This demand in metals is also pushing top mining and investment companies across the globe to invest in the acquisition of key materials primarily used in building electric car batteries.
Below are a few popular tweets from influencers captured by GlobalData’s Social Media Analytics Platform:
- Casper Rawles, Head of Price Assessments at Benchmark Mineral Intelligence:
“LGES signs binding offtake with Australian Mines for 100% of its planned #nickel & #cobalt MHP supply once financing is secured
More battery minerals supply locked up before production commences – a sign of the lack of available tonnage for long term offtake from operating mines.”
- Charles C. Nyabeze, VP – Business Development and Commercialization at CEMI:
“Bridge the knowledge gap- did you know that a greener battery powered car will use up to four times as much copper as that used in a fossil fuel powered car. The demand for more copper will increase as more people buy electric cars. Meaning more #mining”