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Norilsk Nickel bets on batteries as growing sales of electric vehicles

Russian mining Norilsk Nickel wants to expand in the market of materials used for the manufacture of batteries for the rapidly growing sector of electric vehicles.

29.Jun.17 1:24 PM
By Daria Zaytseva


Norilsk Nickel bets on batteries as growing sales of electric vehicles

Nornickel, the world's second-largest nickel producer and a major cobalt producer, and German chemicals company BASF said that they were in talks to supply nickel and cobalt, needed to make lithium-ion batteries, in Europe, as in the car industry electric vehicles gathers pace.

BASF and Nornickel discuss cooperation to set the foundation to supply battery cell producers for electric vehicles in Europe with regionally produced cathode materials.

Markus Meurer, from Nornickel, said project with BASF would be developed over the next few months and the important question was how to allow the increase in the production of battery raw materials in parallel with growing demand.

The International Energy Agency (IEA) said this month, the number of electric vehicles on roads worldwide rose to a record high of 2 million last year. UBS recently raised its forecasts for global sales of electric vehicles in 2021 to 3.1 million from 2.5 million and to 14.2 million by 2025 from 9.7 million.

According to Nornickel, last year, nickel demand for electric vehicle batteries rose 20 percent to 15,000 tonnes. They expected demand for nickel from the electric vehicle market to rise to 300,000 tonnes in 10 years from 20,000 tonnes in 2017, making it the second-largest segment for nickel demand after stainless steel.

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