According to Deloitte’s global electric vehicle (EV) forecast, total EV sales will grow from 2.5 million in 2020 to 11.2 million in 2025, then reach 31.1 million by 2030 – representing approximately 32% of the total market share for new car sales. Over the next 10 years, the EV market is projected to achieve a compound annual growth rate of 29%.
However, new discoveries of nickel sulfide deposits (currently the most reliable source for battery-grade class 1 nickel) have been rare, which could constrain class 1 nickel supply in the coming years.
“Please mine more nickel... Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way.”
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