When it comes to current lithium-ion battery tech, cobalt is an essential element – both literally and figuratively. Cobalt is so important to current battery technology that China has gone to great lengths to secure it, predicting a global rise in its demand.

Some reports state that the global supply of cobalt and lithium will reach critical levels by as early as 2050, if current trends and predictions about the adoption of electric vehicles remain true. This statement is especially true for cobalt, with reserves only expected to meet half of the predicted demand.

Before we go further, it should be noted that current roughly half of all cobalt mined in the world is used in batteries (and roughly half of all cobalt mining is done in the Democratic Republic of Congo). This is because of cobalt’s unique structure as a transition metal.

Panasonic, as one of the biggest battery providers for electric vehicles, sees the trend happening with cobalt usage, and understands what it means for the company’s bottom line.

As such, the Japanese technology brand has made news by announcing its plans to eliminate cobalt from its batteries that are destined for electric vehicles.