RE:China to Ban Sale of Fossil Fuel Cars in Electric Vehicle Pu
India to sell only electric cars by 2030
https://money.cnn.com/2017/06/03/technology/future/india-electric-cars/index.html?iid=EL
France and England by 2040 are moving to electric, and Norway plans to convert by 2025.
Even though US subsidies will be effectively ending due to our current political environment, countries with electric mandates are collectively more than twice the size of the US market.
In 2016 millions of autos sold
China is 23,693,400
India is 2,966,600
EU is 15,131,700
(US is 17,465,000)
Regarding manufacturers changing battery formulation and reducing Cobalt from 20% to 10%, I see that as a positive. If you have growth for electric cars going up by a couple orders of magnitude, along with that the demand for items like cobalt, the less cobalt is needed, the more inelastic the demand curve, and the further cobalt prices can ultimately rise. If cobalt were a large component of the end product, then a price rise in cobalt would drive the end products prices up so high that they would no longer be marketable.