After Cobalt-free Pledge Panasonic To Triple Consumption For Auto Batteries Sources


LONDON – Panasonic Corp expects to more than triple its cobalt consumption in five years’ time, industry sources said, even as the company aims to develop cobalt-free automotive batteries in the near future.

Panasonic is the exclusive battery cell supplier for all new Tesla vehicles, including the mass-market Model 3 electric car. Sources say cobalt-free batteries are many years away.

The scramble to secure supplies of cobalt, which stabilizes and extends the life of lithium-ion rechargeable batteries used to power electric vehicles, has seen prices rise to around $40 a lb from below $10 a lb in December 2015.

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