Over 20M electric vehicle charging points globally by 2030 means 250% more copper says new snapshot.
The study by Wood Mackenzie is one of the most upbeat on the impact of electric vehicles on world copper demand.
The research firm predicted that cumulative demand between now and 2040 will see passenger EVs consume 35.4 Mt.
“The need for for the metal is even more significant when it comes to charging stations and supporting electrical grid infrastructure,” Henry Salisbury, Wood Mackenzie Research Analyst, was quoted as saying.
The company called copper ” a cornerstone of the EV revolution.”
“EVs can use up to three and a half times as much copper when compared to an Internal Combustion Engine passenger car. The amount goes up as the size of the vehicle increases.”
“For example, a fully electric bus uses between 11 and 16 times more copper than an ICE passenger vehicle – depending on the size of the battery and the actual bus.”
Copper is the best metal to conduct electricity and it can comfortably accommodate the higher temperatures that are common in EVs. Aluminium is the closest alternative, but despite being lighter and cheaper, copper comes up trumps on size and efficiency.