The massive impact of electric vehicles on commodities

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Lithium, cobalt, and graphite have tiny markets, and they will explode in size with any notable increase in EV demand. One recent projection, for example, put EVs at a 16% penetration by 2030 and then 51% by 2040. This could be conservative depending on the changing regulatory environment for manufacturers – after all, big markets like China, France, and the U.K. have recently announced that they plan on banning gas-powered vehicles in the near future. See VisualCapitalist here.

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