Bye Cobalt, Robot Mining, and Whatever Happened to the Swiss Watch?
Finally, we close with brief comments on Bye Cobalt, Robot Mining, and Whatever Happened to the Swiss Watch? First, Tesla announced it will utilize a battery for its Cybertruck that will not use Cobalt. Due to the high cost of Cobalt, this will drive the price of the battery down over 15% and bring the cost of the vehicle closer than ever to an internal combustion engine driven vehicle. With this move, we see Tesla and potentially the industry saying: Bye Cobalt. Second, miners, such as Codelco, are adopting new methods for underground mining called Block Caving. This new method automates significant portions of the mining process reducing fuel consumption by 80% and increasing productivity by more than 40%. With these changes, Robot Mining appears set to dominate the future. And Third, Apple sold 30.7 million smartwatches in 2019 compared to the Swiss watch industry selling only 21.1 million watches. With technology marching on, future generations may say: Whatever Happened to the Swiss Watch?
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