Does Elon Musk Need Geopolitical Stability For EV Batteries?

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Photo for representation purpose only

There is going to be a new war of raw materials that might reinvent the Electric vehicle dynamics worldwide. The precious material here in controversy in Nickel.

With a surge in the EV market, there is more need of batteries that make use of this metal. Not found in large quantities, it takes painstaking effort to mine in from the Earth’s crust. As of now, America has small amounts to spare.

In 2020, Tesla's Elon Musk begged miners to “please mine more nickel” and offered a “giant contract” to anyone who could do it sustainably. The problem is acute. Nickel is a key component of electric-vehicle batteries. Thanks to surging EV demand, geopolitics and a lack of new supplies, the high-grade nickel necessary for making electric-vehicle batteries is becoming scarce.

As of latest statistics, Australia and Indonesia are tied for the highest nickel reserves in the world, each coming in at 21 million MT. While Australia is only the fifth largest nickel producer in the world, with 160,000 MT produced in 2021, Indonesia takes the top spot on that list as well, with 1 million MT of the metal produced in 2021.

Russia is on the third spot and Brazil on the second spot. Owing to the geopolitical tensions surrounding Russia, there are high chances, Musk will have to look outside associations to source the necessary law material.


In March, Tesla raised prices on vehicles with nickel-based batteries by $1,000 to account for surging raw material costs.

Recycling and waste reclamation are important means of obtaining some of it. But if the world is truly committed to achieving a net zero carbon future, new mining must play the key role over the next decade. Tesla's commitment to Talon is, in part, a bet that Talon can do it.

If it's successful, the payoff will be more than just financial. 

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