Is Copper a Cornerstone of the EV Revolution?

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The emergence towards lowering carbon output through alternative energy sources has become a top priority around the world, particularly in the transportation sector. The Biden administration is set to introduce a green infrastructure and clean energy plan which was initially estimated at nearly $3 trillion. First revealed last year, the plan is likely to include upgrades to municipal transit networks, an extension of broadband/wireless broadband to all Americans, as well as expenditure in electric vehicle infrastructure. In the U.K., Prime Minister Boris Johnson announced plans to stop the distribution of new diesel and gasoline vehicles by 2030. Many other nations are embracing the drive towards electric vehicle use as well. Germany recently unveiled about 130 billion euro recovery budget, which specifically includes subsidies for shoppers of battery-powered vehicles while no funds were allocated towards combustion engine vehicles. Israel has announced they could also phase out fossil-fuel vehicles by 2030, while China announced a similar plan by 2035.

Meanwhile, Norway plans to remove traditional gasoline-powered vehicles from the road by 2025. In line with this, these other sectors could be tailor-made for this movement. They explicitly target copper, nickel, and lithium in world-class mining regions (BC and Nevada). These are battery metals that have rapid potential demand development forecasts and are positioned to outperform in the market. (1) The internal combustion engine had a good run. It helped get us to where we need to go for more than a century, but its days as the centerpiece of the automotive industry are dwindling. As countries work to cut greenhouse gas emissions, electric cars are stealing the limelight. Have you ever wondered why copper production appears to be so wedded to the prominence of EVs? Have a clearer perspective of copper’s prominence in just a snap!

EVs could use at least three and a half times as much copper when compared to an internal combustion engine (ICE) passenger car. The amount goes up as the size of the vehicle improves: a fully electric bus uses between 11 and 16 times more copper than an ICE passenger vehicle, depending on the size of the battery and the actual bus. Copper is used in every major EV component, from the motor to the inverter and the electrical wiring. And a fully electric vehicle can use up to a mile of copper wiring. Copper’s physical properties make it the best metal to conduct electricity, and it could comfortably accommodate the higher temperatures that are common in EVs. Moreover, these other industries are also ESG-mandated sectors fully committed to creating a cleaner world and cleaner transportation. ESG-mandated assets are anticipated to flourish almost 3x as fast as non-ESG-mandated assets to hit over 50% by 2025.

In addition, it’s battery explorers like these other realms that could benefit the most. The low carbon world needs roughly $1.7 trillion in mining expenditures according to Mining.com. (2) Electric vehicles which create no emissions, show a ray of hope for achieving a greener future. Wondering how these other realms could keep up with this global goal? Let’s ignite the spotlight for electric cars and let it shine on this site!

As the electrification of the auto industry shoot up, the potential demand for the metals that enable the shift from traditional combustion engine vehicles to electric vehicles develops. But as with all finite resources, we could foresee reaching a peak in production at some point. Electric vehicles are crafting a competitive edge that might become a new standard in this generation. Don’t go yet! The future is in reach here. It’s time to plug into the new road ahead!

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Source 1: https://www.reuters.com/article/sponsored/copper-electric-vehicle

Source 2: https://www.woodmac.com/news/opinion/copper-powering-up-the-electric-vehicle/

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