WORLD: the sale of electric cars doubles in 2021 to reach 6.6 million pieces sold against 3 million in 2020 (IEA)
Data from the International Energy Agency (IEA) released at the end of January 2022 indicated that automakers sold 6.6 million electric cars in 2021 compared to 3 million the previous year, double the sale of the latter.
The uptrend is set to continue into 2022 and beyond as one auto industry giant after another announces multi-year plans to go all-electric.
This table reflects the start of the electric vehicle boom announced several years ago. Also, a business opportunity in the Democratic Republic of Congo (DRC) because of its potential in mining resources, particularly Cobalt. This mineral is used in the production of electric vehicles to make the batteries for these vehicles.
Note that the Cobalt market has continued to waver. In 2018, the ton of this ore had climbed to 95,500 USD to drop drastically in 2019, a difficult year for this market, at a price of 30,000 USD per ton.
In 2021, prices started to rise again, doubling in one year to reach around USD 70,000 per tonne.
The improvement observed represents good news for the DRC, world leader in the production of Cobalt (70% of the world supply) and holding in its basement the largest known reserves of this strategic metal.
