A growing market for electric vehicles ( EVs ) and the demand for greater range in EVs is expected to increase the demand for nickel , as first reported in Metal Bulletin . As EVs become commonplace , their expected range will increase and second - generation EV ##hium - ion batteries , combined with higher energy density for longer range , make use of nickel . Furthermore , cobalt , a component in lithium - ion batteries , is an expensive element , resulting in newer batteries having increased nickel content . Tesla 's nickel battery has a 50 % nickel mass . These factors , along with increased battery size , mean nickel demand is expected to rise .
A growing market for electric vehicles (EVs) and the demand for greater range in EVs is expected to increase the demand for nickel, as first reported in Metal Bulletin. As EVs become commonplace, their expected range will increase and second-generation EV lithium-ion batteries, designed with higher energy density for longer range, make use of nickel. Furthermore, cobalt, a component in lithium-ion batteries, is an expensive element, resulting in newer batteries having increased nickel content. Tesla's EV battery has a 50% nickel mass. These factors, along with increased battery size, mean nickel demand is expected to rise.