Metals Billionaire to Win Whether Electric Cars Boom or Bust
- Tycoon moves up rich list on surge in nickel, palladium prices
- Palladium used in cars with gasoline engines, nickel in EVs
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There are two major reasons mining billionaire Vladimir Potanin is within a hair’s breadth of regaining his ranking as Russia’s richest tycoon this year.
One is higher prices for nickel used in batteries as metals traders bet electric vehicles are the future of transportation. The other is a jump in palladium on wagers that gasoline cars will be here for a long time yet.