Glencore Plc might be the world’s biggest exporter of coal, the dirtiest fuel, but the mining giant is increasingly excited about electric cars.
“It looks like it’s going to be the big growth area, no doubt,” Ivan Glasenberg, Glencore’s chief executive officer, said on a call with reporters August 10. “It’s an area people definitely have to get into.”
Battery-powered cars and gasoline hybrids are poised to grow so fast that by 2040 they’ll make up more than half of vehicles sold globally, according to estimates from Bloomberg New Energy Finance.
Electric cars contain about three times more copper than ...