Platinum and the Electric Vehicle Revolution

Platinum, along with Palladium and Rhodium, has been heavily used in catalytic converters, which clean exhaust fumes in internal combustion engine vehicles.

However, as EVs gain popularity—vehicles that don't require catalytic converters—demand for these metals is expected to decline significantly.

Analysts predict that by 2025, the demand for platinum and palladium from the auto sector will begin to fall, further exacerbated by the rise of battery electric vehicles (BEVs) which do not use these metals at all.

However, demand for platinum in hydrogen-fuelled FCEVs is likely to offset the eventual decline in automotive demand for platinum for catalytic converters.

Platinum in Hydrogen Fuel Cells

One of the most promising applications of platinum in the EV industry is in hydrogen fuel cells. Fuel cell electric vehicles (FCEVs) use hydrogen as a fuel to generate electricity, with platinum acting as a catalyst in the chemical reactions that produce power.

Catalytic Efficiency: Platinum is unparalleled in its ability to catalyze the hydrogen oxidation reaction, which is essential for the efficient functioning of fuel cells. Its unique properties enable FCEVs to achieve high energy efficiency and quick refueling times compared to battery electric vehicles (BEVs).

Durability and Longevity: Platinum's durability under the harsh conditions within fuel cells ensures a longer lifespan for these vehicles, making it a crucial component for the commercial viability of FCEVs.

Platinum in Lithium-Air Batteries

While lithium-ion batteries dominate the current EV market, research is advancing towards next-generation batteries, such as lithium-air batteries, which could offer significantly higher energy densities. Platinum plays a role here as well:

Oxygen Reduction Reaction (ORR): Platinum is an excellent catalyst for the oxygen reduction reaction, a key process in lithium-air batteries. This makes it possible to achieve higher energy outputs, potentially extending the range of EVs far beyond current capabilities.

Enhanced Energy Storage: The incorporation of platinum in lithium-air batteries could lead to lighter, more energy-dense batteries, which are essential for advancing the efficiency and range of EVs.

Sustainability and Platinum Recycling

As the demand for platinum in the EV sector grows, so does the importance of sustainability. Platinum is a rare and precious metal, so efficient recycling and recovery processes are vital.

Recycling Innovations: The EV industry is investing in innovative recycling methods to reclaim platinum from spent fuel cells and catalytic converters. These efforts are not only economically beneficial but also reduce the environmental impact associated with platinum mining.

Circular Economy: By focusing on recycling, the industry is promoting a circular economy where platinum can be reused, ensuring that its supply remains stable and affordable as demand increases.

The Future of Platinum in EVs

As the EV revolution continues, platinum's role is likely to expand. Advances in hydrogen fuel cell technology and next-generation batteries could see platinum become as essential to the future of transportation as it was to the internal combustion engine.

Investment in Research: Ongoing research into alternative catalysts and the optimization of platinum usage in fuel cells and batteries will shape the future of this metal in the automotive industry.

Market Dynamics: The increasing adoption of FCEVs, particularly in heavy-duty and long-range applications, could drive significant demand for platinum, influencing global markets and mining practices.

So, platinum is poised to play a pivotal role in the electric vehicle revolution.

Its unique properties are critical to the development of hydrogen fuel cells and advanced battery technologies, ensuring that platinum remains a cornerstone of the automotive industry as it transitions to a more sustainable future.