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W resources plc

EV sector will need 250% more copper by 2030 just for charging stations

According to Scottish consultancy Wood Mackenzie, there will be more than 20 million EV charging points by 2030, consuming over 250% more copper than in 2019. But the forecast would only become a reality if more private and public investment is allocated.

The EV charging infrastructure ecosystem is very complex, and most projects require strong partnerships between both public and private stakeholders to deploy the necessary infrastructure, the research notes.

“Range anxiety – worrying that a battery will run out of power mid-journey – is a key psychological barrier standing in the way of more widespread EV adoption .” Henry Salisbury, Wood Mackenzie.

W Resources Plc (LON:WRES) engages in the exploration and development of tungsten, tin, copper, and gold properties.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.