The demand for Cobalt used in Lithium-ion batteries is expected to double in next 3-5 years.
Cobalt is a chemical element with symbol Co and atomic number 27. It has a high melting point (1493°C) and retains its strength to a high temperature. Cobalt is ferromagnetic. It can retain its magnetic properties to 1100°C, a higher temperature than any other material. Ferromagnetism is the strongest type of magneticism: it’s the only one that typically creates forces strong enough to be felt, and is responsible for the magnets encountered in everyday life. These unique properties make the metal perfect for two specialized uses in super-alloys and battery cathodes.
Tesla’s mission is to accelerate the world’s transition to sustainable energy.
To achieve that goal, they must produce electric vehicles in sufficient volume to force change in the automobile industry. With a planned production rate of 500,000 cars per year in the latter half of this decade, Tesla alone will require today’s entire worldwide production of lithium ion batteries. The Tesla Gigafactory was born of necessity and will supply enough batteries to support our projected vehicle demand.
LITHIUM-ION BATTERIES POWER OUR MODERN LIVES
Lithium-ion batteries are incredibly popular these days. You can find them in laptops, PDAs, cell phones, hybrid and electric cars. They’re so common because, pound for pound, they’re some of the most energetic rechargeable batteries available. Compared with traditional battery technology, lithium-ion batteries charge faster, last longer and have a higher power density for more battery life in a lighter package. When you know a little about how they work, the value of the minerals used to produce lithium-ion becomes apparent.
WHAT EXACTLY IS IN A SMARTPHONE
The majority of phones use lithium ion batteries, which are composed of lithium cobalt oxide as a positive electrode and graphite (carbon) as the negative electrode. Copper is used for wiring in the phone, whilst copper, gold and silver are the major metals from which microelectrical components are fashioned. Smartphones also have sophisticated sound systems which utilize cobalt in their speaker magnets.
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