The nickel market is charging up
America is shifting gears on plans for the installation of a new infrastructure grid — an electric vehicle (EV) charging network — across the country.
As part of a $2 trillion infrastructure bill, president Biden has put forward a plan to invest $174 billion through grant and incentive schemes into the development and adoption of EVs across the country.
In March, America officially passed the 100,000 mark of public EV charging stations, according to the Department of Energy’s Alternative Fuel Data Center. Now, the Biden administration wants the construction of 500,000 charging stations by 2030. To put this in perspective, there are 168,000 gas stations in America, according to the US Department of Energy.
The majority of EV charges will likely be done from people's homes, but for longer journeys, fast charging stations will be essential to the success of EVs — no one wants their car to run out of charge halfway down Route 20. So, the plan is for new chargers to be distributed throughout convenient spaces such as public parking and apartment buildings.
At the moment, the EVs using the current network of charging stations are predominantly Tesla, which dominates the American market. In the last 3 years, Tesla held all three top spots with the Tesla Model X, Model S and Model 3, selling 430,592 out of a total combined unit sales of 568,881. But the other automotive companies are investing heavily to catch up. Between 2020 and 2025, GM will invest more than $27 billion in EV and AV (automated vehicle) product development.
It is a vast project and there will be, of course, bumps in the road. So many more EVs means a need for much more cleaner electricity and more efficient transmission cables. And EV sales in the US still account for only 2% of the overall car market.
But most analysts and companies believe we are now turning the corner. In the US alone, the number of EVs on the roads is projected to reach 18.7 million by 2030, about 7% market share, according to the Edison Electric Institute. The institute estimates about 9.6 million charge ports will be required to support this number of EVs.
Biden hopes his infrastructure bill will stimulate investment and create jobs, not only with charging stations, but across the EV sector with technology development, manufacturing, the power grid, and the mining of the raw materials needed to build this future. Which means a major potential upswing for the nickel industry, a mission component of EVs, to keep up with demand.
Anthony Milewski, Chairman of Nickel 28
About Anthony Milewski
Mr. Anthony Milewski has spent his career in various aspects of the mining industry, including as a company director, advisor, founder and investor. In particular, he has been active in the commodities related to decarbonization and the energy transition, including nickel, cobalt, copper and carbon credits. Anthony has served on the London Metals Exchange Cobalt Committee, which includes representatives from the largest mining and commodities companies globally, to represent the interests of the industry to the board of directors the LME. Mr. Milewski holds a B.A. in Russian history from Brigham Young University, an M.A. in Russian and Central Asian Studies from the University of Washington, and a J.D. from the University of Washington. Anthony Milewski has been interviewed by numerous Media outlets, including BNN, The Financial Times, Bloomberg, The Northern Miner and many others. Most recently, Anthony Milewski has written op-ed articles for leading mining publications including The Northern Miner.
Forward-Looking Information: Some of the posted entries on the CEO Corner may contain forward-looking statements. Forward-looking statements address future events and conditions which involve inherent risks and uncertainties. Actual results could differ materially from those expressed or implied by them. Examples of forward looking information and assumptions include future estimates of the worldwide supply and demand for nickel and other metals and the effect that these changes could have on the short term and long term price of nickel and other metals on the world markets, statements regarding the future operating or financial performance of Nickel 28 including the net present value, metal recoveries, capital costs, operating costs, production, rates of return and payback. Forward looking statements involve known and unknown risks and uncertainties which may not prove to be accurate. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com.
In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "projects", "plans", "anticipates" and similar expressions. These statements represent management's expectations or beliefs concerning, among other things, future operations and various components thereof affecting the economic performance of Nickel 28. Undue reliance should not be placed on these forward-looking statements which are based upon management's assumptions and are subject to known and unknown risks and uncertainties, including the business risks discussed above, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted.
Links: Some of the posted entries on the CEO Corner may include links to 3rd party websites. Nickel 28 has not reviewed all websites linked to or from this Site and is not responsible for the contents of any such websites. The inclusion of any link does not imply endorsement by Nickel 28 of the linked website or its content. Use of any such linked website is at the user's own risk.
For further information we refer you to our legal notice.
