On February 26, local time on Thursday, electric car maker Tesla CEO Elon Musk (Elon Musk) tweeted on his personal social media Twitter that the company will replace the ternary lithium batteries of some electric vehicles with iron. lithium battery. "Nickel is our biggest concern in lithium battery production," Musk tweeted. "That's why we're replacing standard mileage EVs with iron-lithium batteries. Iron-rich lithium battery!"

Musk has previously asked miners to produce more nickel. But metals analyst Allan Ray Restauro said nickel supply will remain tight over the next three years. As demand continues to recover, a severe nickel supply shortage could occur as early as 2023.

Nickel is a key component in the production of ternary lithium batteries for electric vehicles, which makes the battery more energy-dense and allows for a reduction in the amount of cobalt used in the battery. Because cobalt is more expensive, the supply chain is more opaque.

Commodity prices have risen across the board this year, with nickel metal prices rising 16% on the London Metal Exchange. Investors are betting on strong demand growth as the economy continues to recover.

Shenzhen Topband Battery Co., Ltd.，established in 2006, is a wholly-owned subsidiary of Shenzhen Topband Co., Ltd. (002139.SZ). We focus on lithium iron phosphate batteries,with independent research and development in cells and BMS. With the ability to integrate the entire industry chain, we are committed to providing customers with one-stop lithium battery solutions and services. Our quality products are widely used in energy storage and light power.