Indonesian nickel giant Vale digs deeper into battery-grade nickel
World’s second-largest nickel miner is investing US$9 billion to make EV battery materials even as iron-based packs go mainstream
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[SOUTH SULAWESI] Nickel giant Vale Indonesia is pressing ahead with a multibillion-dollar pivot into battery-grade nickel, betting that demand for nickel-based electric vehicle (EV) batteries will remain resilient even as lithium ironphosphate (LFP) batteries gain ground globally.
The strategy reflects the company’s view that nickel-rich batteries – prized for their higher energy density – will continue co-existing with LFP, particularly in higher-performance vehicles, vice-president director Abu Ashar told The Business Times.
“We are optimistic that nickel-based batteries will remain in demand because of their durability and longer cycle life,” he said, adding that several major manufacturers, including Chinese carmaker BYD, continue to use them alongside LFP batteries.
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