March 18, 2022 – Nickel is a crucial component in many electric vehicles because it’s used to construct battery cathodes. Russia accounts for 10 percent of the world’s nickel supply and 20 percent of the world’s “class 1” nickel supply, which is the purity level usually required for EV applications.
Tesla uses a nickel-cobalt-manganese blend of metal in its batteries, which have cathodes that are 90 percent composed of nickel, leaving the company vulnerable. Ford had negotiated longer-term contracts for its nickel supplies, leaving it locked in at pre-conflict pricing and supply.
While nickel is far from the only component required for an EV, it’s a crucial metal that Ford can relax about while other manufacturers scramble to reestablish their own supplies, and with the F-150 Lightning hitting the market in short order, it may position Ford well for the coming few years of electric car sales.
