Raw material costs have more than doubled since Elon Musk said Tesla will produce 20 million vehicles per year before 2030.
Extrapolating the current numbers for Tesla’s sales-weighted end-use of metals from the Adamas database and accounting for trends in the carmaker’s battery deployment, includingand future model releases, Adamas calculated the raw materials needed to produce 20m cars and trucks per year.
That’s up from $44.8 billion for the metals entering the battery and electric motor supply chain at the time the production goal was announced. Nickel made up 25% of the overall bill of materials two years ago, now that portion is 15.7% despite a 40% increase in the price of the metal since then. Bar lithium, prices have pulled back sharply since March but through to the end of the decade most, if not all these commoditiesAs automakers scramble for lithium, nickel, cobalt, graphite, rare earths, aluminium, manganese and copper securing supply may ultimately be a bigger issue than costs.
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