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While electric automobiles (EVs) are obtaining popularity, the rate at which EVs will certainly acquire market share will not be as quickly as generally anticipated, indicating that the car market will certainly still require the platinum team metals (PGMs) for catalytic converters in the foreseeable future, stated Jeff Christian, managing partner of CPM Group.
" There is a lot of optimism about the price at which electric automobiles will take market share. Our assumption, taking a look at the auto sector and also speaking with the market, is that it's not mosting likely to happen as fast as a great deal of people believe," Christian said, adding that he has a favorable view on platinum prices over the following 3 to 5 years.
Presently, the car market continues to be the main resource of need for PGMs.
0:00 – Current platinum rate action
1:13 – Long-lasting overview on PGMs
3:28 – Palladium vs. platinum
4:35 – EV fostering assumptions overblown
8:54 – Another industry to drive PGM need in future?
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Don’t bet on rapid EV adoption; platinum, palladium will still be needed – CPM Group
While electric vehicles (EVs) are gaining popularity, the rate at which EVs will gain market share will not be as fast as commonly expected, meaning that the auto industry will still need the platinum group metals (PGMs) for catalytic converters in the foreseeable future, said Jeff Christian, managing partner of CPM Group.
“There is a lot of optimism about the rate at which electric vehicles will take market share. Our expectation, looking at the auto industry and talking to the industry, is that it’s not going to happen as fast as a lot of people think,” Christian said, adding that he has a positive view on platinum prices over the next three to five years.
Currently, the auto industry remains the primary source of demand for PGMs.
0:00 - Recent platinum price action
1:13 - Long-term outlook on PGMs
3:28 - Palladium vs. platinum
4:35 - EV adoption expectations overblown
8:54 - Another industry to drive PGM demand in future?
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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