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Special Edition: EV sales boom charges into energy, metals sectors


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Special Edition: EV sales boom charges into energy, metals sectors

In a multipart series, S&P Global Market Intelligence explores the rise of electric vehicles and their impacts on the global economy, from the auto and power industries to the oil and mining sectors.


➤ Electric vehicle surge resonates across global economy

Fueled by skyrocketing demand in Europe, China and the U.S., sales of pure electric and plug-in hybrid passenger vehicles in 2021 are on pace to more than double to a record 6.2 million units, according to S&P Global Market Intelligence data. At nearly 9% of the global passenger vehicle market, up from less than 3% just two years ago, this marks an emphatic finish to a long ascent to commercial relevance.

➤ Battery disruptors are jolting metal supply chains

With electric vehicle sales expected to boom, global battery demand could increase over fivefold between 2020 and 2025, according to S&P Global Market Intelligence data. EVs require roughly six times more minerals than cars with internal combustion engines. That means EV-makers will eat up an increasing share of the world's lithium, cobalt, nickel and other metals needed to make batteries.

➤ Electric vehicle growth to sever oil from key market

The surging popularity of electric vehicles stands to rattle fossil fuel markets, with energy experts anticipating an erosion of oil demand for transportation around the globe. At the same time, the EV revolution has the potential to generate additional demand for natural gas as a power source for plug-in cars.

➤ Rise of electric vehicles heightens grid-integration imperative

The millions of new grid-connected cars, vans, trucks and other electric vehicles hitting the road each year will not get far without ample charge for their increasingly powerful lithium-ion batteries. EVs could require between 525 TWh and 860 TWh of electricity globally in 2030, up from 80 TWh last year, according to the International Energy Agency.

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Market Intelligence analysts forecast a lithium and cobalt shortage surfacing by 2025. Primary nickel is expected to fall into a deficit in 2021.

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Ford, GM launch expansion plans as Biden charges up battery strategy

US has steep hill to climb to meet Biden's target of 50% EV sales by 2030

Gov. Newsom launches $15B for climate, EVs, hydrogen; orders offshore wind goal

Clean-tech SPACs keep rolling in as sector seeks to prove itself


High metal prices could slow the race to zero carbon

Lithium prices soar to new heights thanks to EV sales

Miners face challenges in keeping up supply amid surging EV demand

Global cobalt supply deficit 'not as dire,' analysts say

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ISSUE IN FOCUS: Battery demand sparks metals crunch

Strong global demand for batteries driven by the proliferation of electric vehicles is causing significant volatility in prices for battery metals.

Follow our ongoing coverage.

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Southern California Edison rolls out $436M electric-vehicle charging program

As EV demand grows, US utilities coordinate on building a charging network

EV charging build-out in US at 'inflection point,' Siemens official says

Regulators attempt to thread the needle with electric vehicle charging tariffs


UK can be 'blueprint' for transition that includes oil and gas – Shell exec

EV spread could boost global power demand nearly 25% by midcentury – report

Proposed clean car rules expected to increase US electricity demand by just 1.3%


"This is one of the biggest transformations since the industrial revolution, and it's not just transforming what powers the car." Josh Boone, executive director of EV advocacy group Veloz, describing the surge in electric vehicle investments.