Russia’s invasion of Ukraine has caused chaos in the global supply chain, affecting everything from energy prices to fertilizer supplies. As Western powers sanction Russia, prices for nickel, a vital metal that is a key component of electric vehicle batteries, have soared to record highs. Earlier this month, the price of nickel soared 90% to a record high.
One of the main reasons for this is that Russia currently supplies the world with about a tenth of its global nickel needs, which are mainly used for stainless steel and electric vehicle batteries.
Britishvolt, a British startup working to build the country’s first large-scale gigafactory, is leading the way in safeguarding its nickel supply from Russian influence.
They have signed an agreement with VKTR, a leading Indonesian company, to establish a nickel sulphate plant in Indonesia to supply battery raw material for Britishvolt’s first large-scale gigaplant in Northumberland. , UK.
While Russia is a major nickel supplier to the EU, Indonesia is the world’s largest nickel producing country and is rapidly developing its own electric vehicle industry.
The two companies also plan to develop a gigaplant of electric batteries in Indonesia.
Orral Nadjari, CEO and Founder of Britishvolt, said: “Indonesia has huge and unprecedented potential which will see a flow of global investment into the country as it aims to become a global leader on the international battery stage. .
“I am thrilled to be part of Indonesia’s journey to net zero, and I look forward to seeing the results of this partnership with VKTR.
“I am also proud to help establish a secure supply of nickel in the UK at a time when raw materials are in the spotlight as the age of the battery really begins.
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“Secure and sustainable supply chains are essential for a successful energy transition.
Timon Orlob, Global Chief Operating Operator, Britishvolt: “These announcements demonstrate Britishvolt’s commitment to securing the critical ingredient in battery cells, nickel sulphate.
“The deal gives us the security of nickel from the largest source in the world.”
Amid this crisis, Tesla and other electric vehicle companies are facing a tough spot as the price of nickel, a key component of electric vehicle batteries, hits record highs.
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