Tag: Cobalt

Falling Lithium Prices Are Making Electric Cars More Affordable

Chin@Strategy

Lithium, the common ingredient in almost all electric-car batteries, has become so precious that it is often called white gold. But something surprising has happened recently: The metal’s price has fallen, helping to make electric vehicles more affordable. Since January, the price of lithium has dropped by nearly 20 percent, according to Benchmark Minerals, even as sales of electric vehicles have soared. Cobalt, another important battery material, has fallen by more than half. Copper, essential to electric motors and batteries, has slipped by about 18 percent, even though U.S. mines…

In Congo, Bolivia and Beyond, Where the Green Future Begins

Chin@Strategy

Like prospectors in the American West during the gold rush, companies and self-starters are racing to far-flung places around the globe to mine the natural resources that will drive the technology of the 21st century. The Times’s ongoing Race to the Future series is documenting the geopolitical, economic and environmental wrangling that is shaping the shift from fossil fuels to electricity in vehicle technology. Times journalists from four desks are collaborating to shed light on the scramble for metals and the players involved: local residents with pickaxes, celebrity investors eyeing…

How China’s CATL Became the Top Electric Car Battery Maker

Chin@Strategy

CATL’s initial public offering in 2018 made Mr. Zeng and two CATL vice chairmen, who together own a 40 percent stake, rich. Other early investors, some with deep political connections, did well, too. The company’s success was never assured, but China had let the world know that it planned to dominate the electric vehicle industry. It said in a sweeping announcement in 2016 that a “third industrial revolution” focusing on digitization and “new energy” would allow China to take the lead in autos. CATL invited a few outside investors to…

What to Know About Mining in Congo

Chin@Strategy

What to Know About Mining in Congo Dionne Searcey and Eric Lipton📍Reporting from Democratic Republic of Congo The price of cobalt has skyrocketed in recent years, and the impact is clear in the cobalt-rich area near Kasulo. Trucks driving vats of chemicals rumble onto giant mines that produce hundreds of thousands of tons of ore. But regular people, and sometimes children, also grab a pickax and start digging. They’re known as artisanal miners, as opposed to industrial miners. NYT

What to Know About the Frantic Quest for Cobalt

Chin@Strategy

The clean energy revolution is replacing oil and gas with a new global force: the minerals and metals needed in electric car batteries, solar panels and other forms of renewable energy. Places like the Democratic Republic of Congo, which produces two-thirds of the world’s supply of cobalt, for example, are stepping into the kinds of roles once played by Saudi Arabia and other oil-rich nations. And a race between China and the United States to secure supplies could have far-reaching implications for the shared goal of protecting the planet. An…