Over four million electric vehicles (EVs) have been sold globally by end of September and the time to sell a million EVs is shortening – from 5 years to 6 months within 7 years. In 2017, EV sales stood at about 1.4 million – almost half of the units were sold in China. This year, people expect China EV sales to double last year. In the longer term, S&P Global Platts Analytics foresee 50 million EVs sold by 2040, and market share to grow from less 5% to 60% in the same period, in China, US and Europe.
The rapid growth brings more attention on strong upside potential for battery raw materials, as battery costs make up a large part of the total cost of an EV, about 42%. Within it, cathode accounts for 60% battery cost. Lithium, cobalt and nickel account for 90% of cathode cost. A Tesla Model S would consume about 10 kg lithium and 12-15 kg cobalt.
Despite the escalating demand for metals, supply is taking off in the same time -- miners explore new projects, refiners expand capacity.
So, what does global electrification drive mean for commodities markets?
Join our 45-minute S&P Global Platts Webinar to find out.
This webinar brings together S&P Global Platts specialists from Singapore, Shanghai, London and New York, to discuss the implications of global electrification.
3:00pm |
Registration & Networking |
3:30pm |
Welcome Address and Introductions Ross McCracken, Managing Editor, Energy Economist |
3:40pm |
Spot LNG: a market in transition
Stephanie Wilson, Managing Editor, Asia LNG |
4:10pm |
Europe as a balancing point for cargoes
Desmond Wong, Managing Editor, Europe LNG |
4:30pm |
Networking Break |
5:00pm |
Looking ahead: The next 5 years…Pricing and fundamentals outlook
May Mannes, Head of Gas & LNG Analysis (Eclipse Energy Group, a unit of Platts) |
5:30pm |
Panel discussion Ross McCracken, Managing Editor, Energy Economist |
6:00pm |
Conclusion |
Agenda subject to change
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