Vedanta Nico signs pact to supply Nickel to US based fiirm
Vedanta Limited's arm Vedanta Nico has signed a pact with US-based AEsir Technologies for the nickel supply. Nickel is a critical component for next-generation batteries and is important in Electric vehicles (EV).
Nickel-rich batteries, such as nickel-zinc variants, offer fast charging, reduce reliance on cobalt, and improve the overall electric vehicle (EV) value proposition. Global demand for nickel in batteries is projected to reach 500,000 tonnes by 2025 from 150,000 tonnes in 2020.
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