Nickel-Powered Sustainability: Revolutionizing the Energy Economy Through Lithium Batteries

Authors : Sidika BASCI, Kayla SHEVADENA

Pages : 30-38

View : 4 | Download : 4

Publication Date : 2024-12-31

Article Type : Research Paper

Abstract :Nickel is a chemical element and a transition metal that is commonly used in steel manufacturing. Almost two-thirds of the nickel sold out every year goes into stainless steel. The useage of stainless steel, so the nickel, in the automobile sector is huge. Traditional automobile sector manufacturers require stainless steel metal for their products. Furthermore, the demand for nickel increased with the new electric cars using batteries. The rising demand for EVs in 2025 is expected to drive a significant increase in nickel prices—potentially up to 1000%—unveiling both economic opportunities and challenges for nickel-producing countries. The complementary relationship between batteries and nickel demand is estimated to increase the contribution to the GDP of nickel supplying countries. However, there is a notable disparity in the economic benefits between nations with large nickel reserves, such as Indonesia and Australia, and EV-manufacturing powerhouses like China. This underscores the urgent need for strategic policy reforms in nickel-supplying countries. This paper analyses the impact of the transition to lithium batteries on fossil energy sources and tries to find an answer to an important question “will the countries with the largest nickel stock become the new energy leaders”.
Keywords : Nickel, Lithium Batteries, Electronic Vehicles