Is the Demand for Copper High in New Energy Vehicles?
1 Answers
Based on a minimum 15% penetration rate of new energy vehicles, global production of new energy vehicles may reach 16 million units by 2025. In terms of copper demand, the amount of copper used per new energy vehicle is significantly higher than that of traditional vehicles. Details are as follows: 1. Reasons: Copper is an excellent conductor and is cheaper than other conductive metals like gold or silver. Additionally, its corrosion resistance, ductility, and malleability make it an ideal material for wiring. 2. Usage: Copper is used in the electric motors and wiring of electric vehicles. Each new energy vehicle uses approximately 91 kilograms of copper, which is four times the amount used in traditional fuel-powered vehicles. Furthermore, home car chargers and public charging stations also require more copper.