48-78 million New Energy Cars by 2025 - ChinaFrom the just completed Car Conference, Chinese Car Engineering Committee is projected to have 50-80 million new energy cars on road in China by 2025. That means that China is planning to sell 48-78 million new energy cars by 2025 since 2 millions were already on road. If we assume 1/3 NCM811, 1/10 NCA and the remaining for NCM622, NCM523 and others, on average each car will consume 7 kg of cobalt, China will require 336,000 - 546,000 tonnes of cobalt within 6 years or 56,000 - 91,000 tonnes of cobalt per year. Since China is projected to produce half of the new energy cars in the world. So the world will require 112,000-182,000 tonnes of cobalt for new energy car. Cobalt supply annually will need to increase by 112,000-182,000 tonnes on average to meet the demand of new energy car production. After KAT 40,000 tonnes and ERG 20,000 tonnes, where are the new major cobalt supplies coming from? Severe cobalt shortage is evitable, which means high price, e.g. over $100,000 per tonnes before 2025. My guess is around 2022-2023 time frame.