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Auto parts makers shine spotlight on aluminium's role in electric vehicles

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A faster-paced energy transition through a speedier shift to electric vehicles has created a new, substantial demand stream for aluminium and major opportunities for auto supply chain firms flying under investors' radar.

Sitting on both sides is Norsk Hydro, which produces aluminium metal and parts for autos.

Hydro delivers more than 350,000 tonnes of aluminium products to the auto industry every year, with rough estimates showing around 15% of that going to electric vehicles. Many of these customers are in Europe and China, which recently announced measures favouring electric vehicles.Aluminium's popularity is coming at the expense of steel. Steel firms that supply the auto industry include Tata Steel, ArceloMittal, Nippon Steel, Posco and Nucor.

“It's been a long incubation period, but electric vehicles are swinging the pendulum. Aluminium is a higher performing material than steel.”

 

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