Do new energy vehicles have a high demand for copper?
1 Answers
New energy vehicles have a high demand for copper, which is mainly used to make the rotor coils of new energy vehicle motors. Uses of copper: Copper is an excellent conductor and is cheaper than other conductors like gold or silver. Its corrosion resistance, ductility, and malleability make it an ideal material for wires. Copper is used in the motors and wiring of electric vehicles. Demand for copper: New energy vehicles use four times more copper than traditional fuel-powered vehicles. It is estimated that by 2030, the mining industry will need to produce 2 million tons of copper annually to meet the demand for electric vehicles. Additionally, home car chargers and public charging stations also require more copper.