Demand for electric vehicle batteries is pushing up production of nickel, especially in Indonesia, where the government is moving to benefit from its natural resources.
One of the companies on the leading edge of this upward momentum is Pacific Rim Cobalt Corp. (CSE: BOLT) (OTCQB: PCRCF) (XFRA: NXFE) (PCRCF Profile), which is setting out a bold expansion plan following a successful exploration and development season in Indonesia last year. Other companies with interest in nickel production include Honda Motor Company Ltd. (NYSE: HMC) (OTC: HNDAF), which will be looking for more nickel as it increases its EV range. Tesla Inc. (NASDAQ: TSLA) also continues to push the boundary for EV and has seen its stock rise as the market grows. Toyota Motor Corporation (NYSE: TM) (OTC: TOYOF) is moving into EV, with millions of alternative fuel vehicles sold in the United States. Panasonic Corp ADR (OTC: PCRFY) is working with several of these companies to keep up the EV battery supply.
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About Pacific Rim Cobalt
Pacific Rim Cobalt is a Canadian-based exploration company focused on the acquisition and development of production grade nickel-cobalt deposits, key raw material inputs for the growing lithium-ion battery industry. For more information, visit the company’s website at www.PacificRimCobalt.com.
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