Cobalt consumption in EV batteries rose 63% in 2022 y-o-y - report EVbatteries
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CI also said that global sales of battery electric vehicles and plug-in hybrid electric vehicles rose by 56% year-on-year to 3.5 million units in Q4 2022, adding that 2022 saw an increased share of cobalt-free chemistries in electric vehicles battery formulations. "This increased demand has supported alloy cobalt demand and driven strong financial performance from major superalloy manufacturers," the authors of the report found.
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