EV production keeps demand for copper high - Vietnam can play a bigger role in the supply chain

Investments needed: A Vinfast EV is seen in Hanoi. Despite having several refineries with a capacity of up to 10,000 tonnes per year, Vietnam still heavily relies on imported copper for its huge appetite for the red metal. — AFP

HANOI: As countries around the world set their sights on the development of electric vehicles (EVs) as a key component of the net-zero carbon emission vision 2050, copper, an important input material in making EVs, will likely be in short supply and expensive, say industry insiders and experts.

As production grows, demand for the red metal will continue to rise in the future while limited supply is forecast to fall short of demand in the coming years.