These Metals May Become Obsolete Thanks To Electric Cars HD

The electrification of the automotive industry may curtail demand for precious and base metals, specifically those metals used as catalytic converters in today’s petroleum engines like rhodium, platinum, and palladium, said Bodo Albrecht, founder of the BASIQ Corporation and president of the IPMI. “Battery electric vehicles do not require precious metals, while hydrogen electric vehicles, the fuel cells, will require precious metals,” Albrecht told Kitco News on the sidelines of the IPMI Precious Metals Mobility Symposium. Albrecht noted that the transition from our current petro-based ecosystem to any other technology is a lengthy process that would take decades, so metals are not in any immediate danger, although the industry is already taking steps to adopt evolving technologies. “If you look at the major players in the field, the major catalyst suppliers…they’re all evolving into battery materials and hydrogen fuel cells for that reason. But again, it’s a long time out,” he said. _ 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. Subscribe to our channel to stay up to date on the latest insights moving the metals markets. For more breaking news, visit http://www.kitco.com/ Follow us on social media: Facebook - https://www.facebook.com/KitcoNews/?ref=br_rs Twitter - https://twitter.com/kitconewsnow Google+: https://plus.google.com/u/0/116266490328854474588 StockTwits - https://stocktwits.com/kitconews Live gold price and charts: http://www.kitco.com/gold-price-today-usa/ Live silver price and charts: http://www.kitco.com/silver-price-today-usa/ Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/ Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.