Don’t bet on rapid EV adoption; platinum, palladium will still be needed – CPM Group

While electric vehicles (EVs) are gaining popularity, the rate at which EVs will gain market share will not be as fast as commonly expected, meaning that the auto industry will still need the platinum group metals (PGMs) for catalytic converters in the foreseeable future, said Jeff Christian, managing partner of CPM Group.

“There is a lot of optimism about the rate at which electric vehicles will take market share. Our expectation, looking at the auto industry and talking to the industry, is that it’s not going to happen as fast as a lot of people think,” Christian said, adding that he has a positive view on platinum prices over the next three to five years.

Currently, the auto industry remains the primary source of demand for PGMs.

0:00 - Recent platinum price action
1:13 - Long-term outlook on PGMs
3:28 - Palladium vs. platinum
4:35 - EV adoption expectations overblown
8:54 - Another industry to drive PGM demand in future?
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