China just locked in its position as a dominant player in electric vehicle production

Electric cars road China

  • China signed a deal to secure a huge amount of the global supply of cobalt.
  • The Chinese company GEM will purchase 50,000 tonnes of cobalt over three years, which amounts to half the world’s supply in 2017.
  • The deal locks in China’s position as a market leader in the manufacturing of electric car batteries globally.

China has signed a huge deal to secure the lion’s share of global cobalt supply — a core component of electric car batteries.

The deal will see GEM — a $ 4.6 billion company listed on the Shenzhen stock exchange — purchase 50,000 tonnes of cobalt from mining company Glencore over the next three years.

See the rest of the story at Business Insider

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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