Chinese electric vehicle battery nickel consumption surges by 253% in Jan
According to the report, the nickel consumption of electric vehicle batteries continued to grow. The nickel consumption of electric bicycle batteries in China has increased by 253% in January 2019 compared with the same period of last year, surpassing the US and Japan to become the world's largest market.
Based on McKinsey's research report, it was estimated that the global electric vehicle production will reach 31 million in 2025, and the demand for high-purity nickel for electric vehicle batteries will increase by 570,000 tons from 33,000 tons in 2017, a 17-fold increase.
The Australian Industry Ministry report also showed that the demand for batteries will increase rapidly driven by electric vehicles. It was estimated that the proportion of nickel consumption in batteries will increase from the current 3% to 6% in 2020.
