Norilsk Sees Nickel in Cars Tripling as Tesla Drives Sales, from Bloomberg Business.
Nickel demand from the auto industry is set to rise as much as threefold in five years as output of electric and hybrid cars gathers pace, according to Russia’s largest producer of the metal.
“Hybrid and electric cars make more demand for nickel,” Anton Berlin, head of strategic marketing at OAO GMK Norilsk Nickel, said in an interview in Moscow. “It will rise because many automobile companies, such as Tesla Motors, have very ambitious plans for the future.”
Electric and hybrid vehicles are increasingly becoming a low-cost alternative for consumers as their batteries — which use nickel — get cheaper and more efficient. That may aid a recovery in the market for the metal after prices slumped because of oversupply in the stainless-steel industry.