Here's why battery manufactures and car makers like Tesla are embracing cobalt-free batteries
Lithium-ion batteries contain a number of different materials including lithium, nickel, aluminum, iron, manganese and cobalt. Of all these metals, cobalt is the most expensive. For the past four years, the average cost of cobalt was higher than the cost of all the other battery metals put together.
The price of cobalt has also historically been very volatile. Part of this volatility is because cobalt is usually produced as a byproduct of nickel and copper mining, and therefore tied to the demand and price fluctuations of those metals. The mining and refining of cobalt is also geographically limited.
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