"While Tesla was the “sentimental poster-boy for electric...

"While Tesla was the “sentimental poster-boy for electric vehicles in North America”, it accounted for only 8.4 per cent of the global electric car market in 2017. Other car makers are focused on battery technologies that require more cobalt.
Cannacord says it has already factored the trend toward lower cobalt content into its supply and demand model – as have other market observers.
“From our perspective, the supply and demand outlooks for both cobalt and lithium are very positive based on burgeoning demand for EVs and energy storage systems,” Cannacord said.
“We view the current correction as an excellent entry/re-entry point for exposure to battery materials equities.”

Battery metal price analyst Benchmark Mineral Intelligence said this week it expected the use of cobalt in lithium-ion batteries to triple between now and 2026.
Electric car makers are focusing on two battery technologies: nickel-cobalt-aluminium (NCA) which has been favoured by Tesla, and nickel-cobalt-manganese (NCM).
The NCM chemistry is much more popular among Tesla’s rivals.
NCM batteries will account for about 70 per cent of the total lithium-ion battery market by 2026, Benchmark predicts."