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Electric Cars: Precious Metals' New Best Friend

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Precious metals, including silver and gold, are clear winners in the electrification of vehicles, said Johann Wiebe, lead metals analyst at Thomson Reuters.

“We see a strong demand there [for silver] from the automotive sector using electrical applications in the various arrays in cars,” Wiebe told Kitco News on the sidelines of the IPMI Precious Metals Mobility Symposium.

Wiebe noted that new applications in vehicles, such as autonomous driving, require more silver in electronics components. Furthermore, the electrification of powertrains will require more silver and gold in electrical components.

“Directly, silver is not going to be so much affected by the electric powertrain push, but indirectly, for sure,” he said.
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