The Conversation (0)
- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Top Stocks
Top Resource Stocks
Top Tech Stocks
Top Life Science Stocks
Trending
Trending Articles
Trending Press Releases
Trending Companies
Trending Reports
Resource
Popular Lists
Investing Ideas
Outlook Reports
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
Investing Guides
Tech
Popular Lists
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
Investing Ideas
Outlook Reports
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
Investing Guides
Life Science
Popular Lists
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
Outlook Reports
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Investing Guides
The company is on track to bring five new all-electric models to market in the coming years.
Cobalt bulls received good news on Monday (July 31) when German luxury carmaker Audi (FWB:NSU) outlined its plans to shift to electric cars by the end of the decade.
The company, which is Volkswagen’s (FWB:VOWG) main profit driver, is on track to bring five new all-electric models to market in the coming years. To fund this transition, it will cut 10 billion euros from research and development costs by 2022, sources told Reuters.
Audi is seeking to move on after 2015’s emissions scandal. It has been grappling with car recalls, prosecutor investigations and persistent criticism from unions and managers.
Other carmakers, including Volvo (STO:VOLV) and BMW (ETR:BMW), have also said they plan to electrify most of their car models by the end of the decade. What’s more, France and the UK have outlined policies to turn to electric cars and stop all sales of fossil fuel cars by 2040.
According to Bloomberg Energy New Finance, electric vehicles are on track to accelerate to 54 percent of new car sales by 2040; analysts at UBS (NYSE:UBS) expect global electric vehicle sales in 2021 to reach 3.1 million units and 14.2 million units by 2025.
As electric cars numbers increase, the need for lithium-ion batteries will also soar. In fact, Transparency Market Research estimates that the global lithium-ion battery market sat at $30 billion in 2015, and will rise to more than $75 billion by 2024.
The need for key battery metals such as cobalt is also expected to jump. Analysts forecast that cobalt demand will soar from 46,000 tonnes in 2016 to 76,000 tonnes by 2020. Moreover, CRU Group analysts predict that in 2017 the deficit in the market could triple compared to last year.
In terms of prices, most analysts and market participants continue to be optimistic for 2017. In a recent interview with the Investing News Network, Louis James, editor of the International Speculator at Casey Research, explains why he’s turned bullish on cobalt. Click here to listen to the full interview.
Similarly, Rick Rule, president and CEO of Sprott US Holdings, said he thinks the next commodity that is coming up is cobalt. “We are investing in Congolese cobalt, we are investing Russian cobalt, we are investing in early stage exploration for cobalt in lateritic terrains, both in Australia and Brazil,” he said. Click here to listen to the full interview.
Don’t forget to follow @INN_Resource for real-time news updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.