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Global EV Industry Faces Outsized Risk From Cobalt Supply Disruptions

The electric vehicle sector has reduced cobalt supply risk through widespread adoption of Lithium Iron Phosphate (LFP) batteries since 2020. Led by Tesla and BYD, manufacturers have shifted to cobalt-free battery technology, lowering production costs and reducing dependency on expensive critical minerals while supporting EV industry growth.

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Back in 2020, the electric vehicle sector witnessed a major evolutionary change after leading EV makers started using cobalt-free batteries at scale. Back then, Tesla Inc. (NASDAQ:TSLA) officially shifted to Lithium Iron Phosphate (LFP) for its standard-range vehicles while its leading Chinese rival, BYD Company (OTCPK:BYDDF), introduced its famous "Blade" batteries, triggering mass adoption of LFP batteries for electric vehicles by other automakers. LFP batteries have helped EV manufacturers to lower production costs, eliminate reliance on expensive…

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https://oilprice.com/Energy/Energy-General/Global-EV-Industry-Faces-Outsized-Risk-From-Cobalt-Supply-Disruptions.html

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