Nickel investments may reward investors with solid returns amid EV boom

GOLD prices are rising rapidly as investors pile into this safe haven amid banking industry woes, but nickel may be the more interesting precious metal to watch – thanks to the booming electric vehicle (EV) industry.

Nickel is found in a variety of products including coins, wires and gas turbines. For the EV sector, nickel is an essential component in lithium ion batteries. 

“Nickel has better demand dynamics than some other metals, given its usage in EV batteries and the growth of the EV market,” said Robeco’s head of Asia-Pacific equities Joshua Crabb.