Tesla Inc. boss Elon Musk delivered a one-two punch for anyone betting on cobalt to continue its record-breaking rally, and some good news for nickel fans.
The maker of electric vehicles said in a letter to shareholders it has slashed its reliance on cobalt for its Model 3 vehicle, while raising nickel content, and that its latest batteries already employ less cobalt than similar types already on the market. On a conference call with analysts, Musk went further.
