Europe is expected to emerge in the next decade as the number two adopter of electric vehicles, and this has created an opportunity for vanadium players.

According to research firm BloombergNEF, electric cars will make up 57 percent of all global passenger sales by 2040 — while electric buses are expected to make up 81 percent of new fleet numbers in the same time period.

While the growth in the early stages is expected to be driven by the usual players in China and the US — Europe is set to emerge as an EV force.

According to the research firm, Europe “pulls ahead of the US as the number two EV market globally during the 2020s.”

A raft of regulatory moves such as the limiting of petrol vehicles within the CBD of several European cities along with stringent vehicle emission targets are expected to hasten this rise.

While this creates an opportunity for minerals which are often brought up in the EV conversation, such as lithium, copper, and cobalt — vanadium is set to play a starring role as well.

READ: No, but seriously, what’s vanadium?

There is promising research indicating that vanadium could be ideal for cathodes in electric batteries — which is why it’s often hyped as the ‘next lithium’.

For companies such as Pursuit Minerals (ASX:PUR) this could create an opportunity.

With promising vanadium projects in Sweden and Finland, the company is building an early-stage position in vanadium supply and could be well-placed to supply gigafactories on the continent with a nearby supply.

Pursuit recently told investors that it had completed a scoping studies at two of its projects, with both indicating that the projects were “financially robust”.

 

This content is produced by Star Investing in commercial partnership with Pursuit Minerals. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.