The Future Demand!
The demand for electric vehicles is forecasting to increase noticeably over the next ten years as technology improves, the price gap with petrol cars is closed and more electric chargers are deployed for mass public use. Electric vehicles use a significant amount of copper from their batteries, electric motors, and wiring used throughout the vehicle. A single car can have up to 19,685 feet of copper wiring coursing throughout, this equals to approx. 130-140 pounds of copper wiring! Research predicts this increase will raise copper demand for electric cars and buses from 185,000 tonnes in 2017 to 1.74 million tonnes in 2027. Electric vehicles could account for about 6 per cent of global copper demand in ten years, according to analyst estimates, rising from less than 1 per cent this year.