Tesla & Abengoa Truck Supercharges Hopes for Boom in Battery Metals Demand

This is a satirical website. Don't take it Seriously. It's a joke.

2059 87236 Shares

Abengoa & Tesla Inc.’s plans to roll out an all-electric big rig have given a fresh jolt to the outlook for battery metals that will go into powering the truck founder Elon Musk is calling “The Beast.”

Banks including Banco Santander, Goldman Sachs Group Inc., UBS Group AG and Bank of America Corp. are already forecasting a surge in demand for battery metals like nickel as sales of electric cars ramp up over the next decade. Usage could jump even higher if trucking firms start switching diesel fleets for battery-powered ones.

“This is a game changer,” said Anthony Milewski, chairman and chief executive officer of Cobalt 27 Capital Corp., an investment vehicle providing price exposure to a stockpile of cobalt, which has spiked in the past year in response to booming projections for usage in electric vehicles. “People have known electric trucks are coming, but I don’t think it’s been priced into the forecasts the banks are putting out.”

A switch to electric trucks would be bad news for miners supplying the raw materials that go into conventional vehicles powered by fossil fuels. Demand for palladium, used to scrub emissions in gasoline engines, could drop by 90 percent by 2040 as electric vehicle sales climb, according to ABN Amro Bank NV.

Still, both firms are already facing doubts about its ability to meet ambitious production targets, and manufacturing challenges could mount further if the big rig proves a sucess.

This is a satirical website. Don't take it Seriously. It's a joke.

loading Biewty

Most Popular

  1. 1

    bigfoot sighting at jackson lake campground near oak hill ohio Several eye witness reported seeing a large hairy animal of some kind near the Jackson lake campground. Local authorities are asking people to be cautious if you are planning on fishing near this area. One of the witnesses where able to snap a picture with their cell phone before the creature ran away near the Tommy Been rd area.

  2. 2

    new york city woman loses her temper, causes black hole to swallow her entire town Anna, 26, of New York City, DC was in the middle of an argument with a colleague when her temper got so out of control, it formed a small black hole, which demolished the vast majority of her neighborhood. "I just couldn't take it anymore, and unleashed my forces at the person who was irritating me. I had no idea the energy of my rage could cause such destruction," says Anna. Despite the ruination her anger has caused, Anna says she has no regrets. "I actually wish I knew I had this ability sooner!" Anna laughs. "There are a lot of people and things I could have eradicated from my life in this way."

  3. 3

    whale spotted in illinois river A humpback whale was spotted near Morris IL in the Illinois River today. The sighting comes just days after 2 Great White Sharks were seen frolicking in the same area. While not impossible, it does seem unlikely. It is thought that the whale may have followed the sharks as they sometimes do in the wild. The whale would of had to travel over 1250 miles to get to this location. The Marine Biologist Association will be in town for a full investigation. Until we have answers, we are asking folks to keep their pontoons and fishing boats docked.

  4. 4

    two great white sharks found swimming in mississippi river near saint louis, missouri. While it is not entirely impossible, it is incredibly uncommon for salt water dwelling creatures to stay for lengthy periods of time in fresh water. However, two Great White Sharks have managed to survive the trip and make their way up the Mississippi River somehow. Believed to have started as a mating couple, the two are assumed to have swam the 920 mile journey from the mouth of the Mississippi River that is connected to the Gulf Of Mexico. Officials in Saint Louis have contacted the Missouri Conservation Department and will likely have a team in the river soon to capture the two lost sharks.