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There's One Metal Worrying Tesla and EV Battery Suppliers
- Nickel is now the focus of supply concerns: Independence CEO
- Demand for high-purity metal seen outstripping supply by 2025
Photographer: Norm Betts/Bloomberg
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Battery producers and electric automakers, including Tesla Inc., are concerned over longer-term supplies of nickel, a key material in their supply chain that’s forecast to fall into deficit, according to an Australian miner that’s held recent talks with the sector.
The need for the high-purity material used in batteries, known as class-one nickel, is likely to outstrip supply within five years, fueled mainly by rising consumption in the EV industry, according to BloombergNEF.