As automakers around the world set bold targets for vehicle electrification, many in the industry are looking to nickel — an integral component of most lithium ion batteries — as a major hurdle.
While there’s enough nickel in the ground to support a major EV ramp up, there are not enough planned mining projects or processing facilities to make the type of high-grade nickel that’s needed for EV batteries.
Meanwhile, the nickel content in battery cells is only increasing, according to Mark Beveridge at Benchmark Mineral Intelligence. That’s because more nickel means energy density.
″We’re heading towards, you know, 90 percent of the cathode being nickel for certain specific cell types,” Beveridge said.