The cost of minerals for battery production has grown dramatically. What risks does this create for automotive electrification?
Overall, the role of raw materials in the cost of a battery has grown significantly. The mineral share of the battery pack price is now 29%, a 300% increase over three years.
Looking at the value share for different minerals in lithium-ion battery production, cobalt stands out.
How to deal with cobalt dependency
In the May 2022 edition of the Ignizer Report we take a look at three cobalt risk mitigation strategies for battery manufacturers and the automotive industry:
- The geographical concentration of cobalt mining and reserves
- High supply risks created by that concentration
- Three risk mitigation strategies
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