NCM – nickel, cobalt, and magnesium — is used in the majority of EV battery cathodes. Cobalt is an important component of this combination, but it is also the most costly mineral in the battery and is mined in situations that often violate human rights, earning it the moniker “blood diamond of batteries.” As a consequence, GM and other businesses, such as Tesla, are racing to develop cobalt-free batteries. GM’s Ultium batteries, for example, will add aluminum to the mix, making it NCMA, and cut cobalt concentration by 70%.
