🤞AUTOMAKERS PLEDGE TO USE ETHICAL COBALT🤞 A PLEDGE BY AUTOMAKERS TO USE ETHICAL MINERALS FOR ELECTRIC CARS
Some of the popular car makers such as Volkswagen and Toyota have pledged to support the ethical and socially responsible standards for electric vehicle production in their purchases of minerals.
Cobalt, graphite and lithium are among the minerals that are highly in demand and are forecast to soar in the coming years. This is because governments have decided to crack down on vehicle pollution and carmakers step up their investments in electric models.
Volkswagen is looking for making partners in China, Europe and North America to cover its plans for more than 80 new models by 2025 and to provide battery cells and related technology worth more than 50 billion euros.
Meetings are going on with some of the major cobalt producers, like Glencore, at VW’s Wolfsburg headquarters last week, but ended without a deal.
More than half of the world’s cobalt comes from the Democratic Republic of Congo, a country racked by political instability and legal opacity, and where child labor is used in mines.
An initiative has been announced on Wednesday by a group of 10 leading passenger-car and truck manufacturers to jointly identify and address ethical, environmental, human and labor rights issues in raw materials sourcing.
https://www.themarketdigest.org/TMD-News-Articles/2017/11/29/a-pledge-by-automakers-to-use-ethical-minerals-for-electric-cars/