Demand for metals used in battery electric vehicles could rise sixfold if electr...
JOHANNESBURG - Demand for metals used in battery electric vehicles could rise sixfold if electric cars reach 8% of road traffic by the mid-2020s, delivering huge dividends for producing countries like Democratic Republic of Congo, Moody’s said on Tuesday.
However, weak governance in the central African country could dissuade investors and scupper its potential, it added in a research note. By 2030 cobalt production could be equivalent to nearly 16% of DRC’s total GDP last year, more than half of its goods exports and 133% of its government revenue, and significantly boost its fiscal and current account balances, Moody’s wrote.
But even “very partial” exploitation of DRC’s mineral wealth will likely have a credit-positive impact, the analysts said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Zazie Beetz’s Moody Lip Is Your New Fall Go-ToZazie Beetz readied for last night’s Toronto Film Festival premiere with a Merlot lip and intricate braids.
Read more »
Tesla's Battery Guru Describes A New Cell With Massive LifetimeTesla's battery expert, Jeff Dahn, has published results on new battery cells that might last 3 or more times as long as current batteries. That makes electric cars better, improves grid storage and renewable power, and may even help robotaxis finish their day. Let's hope it becomes real.
Read more »
VW unveils its first electric carAfter unveiling a new brand identity and logo, Volkswagen revealed a new electric car to go along with it. The ID.3, a compact hatchback, is the first in a planned family of ID electric cars from the automaker.
Read more »
Impossible Foods says China its top priority meat substitute marketImpossible Foods, a California-based producer of meat substitutes made from plan...
Read more »
What Strategist Readers Are Buying: Scalp Brushes and Pimple PatchesPlus: Wrinkle-fighting serums, electric toothbrushes, and more.
Read more »