Gianni Kovacevic: A Big Increase in the Number of Electric Cars Means Big Demand for Key Commodities
Gianni Kovacevic is driving a Tesla across the US and promoting his book, ‘My Electrician Drives a Porsche’. Contrary to popular belief the car only takes 30 minutes to charge, on long term trips the Telsa takes no more time than a conventional car. The age of the electric car is finally upon us.
This particular Tesla has around 200lbs of copper, 75kgs of lithium, even more graphite and also cobalt. The projected penetration of electric cars is 7-10% globally over the next 5 to 7 years, this represents a massive increase in demand for these key commodities.
All these growing number of green technologies require large amounts of copper which increasingly looks like the commodity to watch for long term growth. Technology in general is not the friend of the oil and gas industries.
Talking points from this week’s interview:
• The future is now – electric car mass production becomes a reality
• Green technologies use large amounts of copper
• No competition yet for Tesla cars
• More electric cars means rising electricity demand