Tesla truck supercharges hopes for boom in battery metals demand

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Photo: Tesla Inc

BLOOMBERG via MINING WEEKLY | 19 November 2017

“Tesla’s plans to roll out an all-electric big rig have given a fresh jolt to the outlook for battery metals that will go into powering the truck founder Elon Musk is calling “The Beast.”

Banks including Goldman Sachs Group, UBS Group and Bank of America are already forecasting a surge in demand for battery metals like nickel as sales of electric cars ramp up over the next decade. Usage could jump even higher if trucking firms start switching diesel fleets for battery-powered ones.

“This is a game changer,” said Anthony Milewski, chairman and CEO of Cobalt 27 Capital, an investment vehicle providing price exposure to a stockpile of cobalt, which has spiked in the past year in response to booming projections for usage in electric vehicles.”

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