Top Palladium Miner Rebuffs Risk of Tesla Electric Car Boom
- Norilsk sees electric cars limited to 15% of the auto market
- Forecasts deficit for platinum and palladium in 2016
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The rise of Tesla Motors Inc.’s electric cars won’t be enough to change the market for conventional vehicles or dent demand for the precious metals used to filter exhaust fumes, according to GMK Norilsk Nickel PJSC.
The lack of infrastructure to charge them and the pressure on power grids means that in the long term, the vehicles may comprise just 15 percent of the total auto market, according to Anton Berlin, head of analysis and market development for Norilsk. In the next five years, the market’s size will be limited to about 2 percent.