BHP says electric car era is dawning earlier than expected
By Sourced Externally
August 5, 2021
Australia’s largest miner BHP has described 2020 as an “inflection point” for the rapidly approaching electric vehicle revolution as Elon Musk’s Tesla sold more than half a million battery-powered cars and sales in Europe more than doubled.
The ASX-listed mining giant, whose main commodities are iron ore, copper and coal, is seeking to expand its exposure to the minerals that will be increasingly required to power the clean energy age such as nickel and copper, which are two of the ingredients in lithium-ion batteries.
BHP Nickel West’s outgoing asset president Eddy Haegel says the electric vehicle era is dawning ahead of expectations.
BHP Nickel West’s outgoing president, Eddy Haegel, said the electric vehicle era was dawning ahead of expectations as world governments unleash “green” post-pandemic stimulus programs targeting transport electrification and set hard deadlines to phase out internal combustion-engine cars.
Automakers were also increasingly expanding their electric vehicle offerings, bringing a range of new battery cars to market in 2020, he said.
In light of this … by 2030, we expect that a quarter of all sales will be electric vehicles,” Mr Haegel told Australia’s annual mining industry conference, Diggers and Dealers, on Tuesday.
“Compared to two years ago, we have upgraded our expectations significantly.”
As big miners come under growing pressure from investors and wider society to better align their businesses with global efforts to combat climate change, BHP has been seeking to clean up its assets and its image including selling off its mines that produce thermal coal – the world’s most carbon-intensive energy source – and lifting its exposure to so-called “future-facing” commodities including copper and nickel.