How cobalt-free batteries will bring down the cost of EVs - CNBC

Battery manufactures like Samsung and Panasonic and car manufactures like Tesla and Volkswagen, along with a number of startups, are working to eliminate cobalt from batteries. Cobalt is one of the most expensive materials found in lithium-ion batteries and cobalt extraction is largely concentrated in the Democratic Republic of Congo, where it is linked to human rights abuses and child labor.

Cobalt is one of the primary metals in lithium-ion batteries, which power everything from laptops to cell phones to electric cars. Cobalt has been a popular choice for batteries because the metal increases battery life and energy density, which in the case of EVs means range, by keeping the battery structure stable as the battery is continuously charged and discharged.

But cobalt, which is typically extracted as a byproduct of nickel and copper mining, is one of the most expensive materials in a battery. While battery prices have fallen 89% between 2010 and 2020, they still make up about 30% of the total cost of an electric vehicle, according to BloombergNEF. Cobalt extraction is also largely concentrated in the Democratic Republic of Congo, where it is linked to human rights abuses and child labor. Plus with EV sales worldwide expected to skyrocket, demand for raw battery materials like cobalt is expected to outstrip supply.

“Comparing demand and supply for cobalt, there is, geologically speaking, there is enough raw material in the Earth’s crust. Same with lithium, same with...

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