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Do electric cars require a lot of steel?
With the rise of the electric car industry, I’m considering investing in the production of the raw materials needed for the vehicles. I know lithium production has increased. But what about steel? Do electric cars require a lot of steel?
Marlee John · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
The electric auto industry is a great investment right now! As automakers are looking to reduce production costs, EVs may start to use more steel in the coming years.
Aluminum has been a popular metal used for cars, but in 2017 when Tesla launched their model, the cars were made of steel: a heavier but cheaper metal. Due to their huge batteries,
electric cars
are much heavier than internal combustion vehicles. A heavier body means less driving range as the motor has to work harder to get the vehicle moving. Aluminum is much lighter, but since it is more expensive, the heavier metal has been in competition for the hearts of auto manufacturers. An article from Reuters claims that the steel industry won’t let aluminum win without putting up a fight.
Researchers in the steel industry are looking to create an alloy that can mimic the lightweight of aluminum, with the low cost of steel. So far, they have developed Advanced High Strength Steel which is “stronger and lighter than normal steel, and…cheaper than aluminum”.
Regardless of your car’s material, to drive it you’ll need
car insurance
. Let Jerry
, help you find the best insurance policy at the best rates so you can just drive.View full answer
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