Nickel content in EV batteries is set to increase as consumer demand for more cost-effective options increases, according to Roskill analyst Kevin Shang in an interview with S&P Global Platts:
- NCM (nickel-cobalt-manganese) cathode materials to remain dominant through 2025 due to high energy density
- Cost of NCM raw materials set to decline as manufacturers increase nickel content in place of more expensive cobalt
- Trend for removing cobalt content expected to continue, with concerns continuing over ethical sourcing from major supplier DRC