High and low demand scenarios for cobalt used in electric cars in the EU 2019-2030

This statistic presents two scenarios for the demand trend of cobalt used in electric vehicles in the European Union from 2017 to 2030. According to the high demand forecast expecting electric vehicles to make up 70 percent of the car market, 124,000 metric tons of cobalt would be needed by 2030.
Cobalt is one of the main elements currently used in the production of rechargeable batteries and demand is particularly driven by their use in battery electric vehicles.

Forecasted high and low demand scenarios for cobalt used in electric vehicles in the European Union (EU) from 2019 to 2030 (in metric tons)*

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Sources

Release date

November 2018

Region

EU

Survey time period

2017

Supplementary notes

* Forecasts based on ERTRAC (European Road Transport Research Advisory Council) two scenarios exercise.

Low scenario: estimates electric vehicles to make up 4-5 percent of car market by 2020 and further increase to 20 percent by 2030.
High scenario: estimates electric vehicles to make up 8-10 percent of car market by 2020 and further increase to 70 percent by 2030.

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