All Volvo models launched after 2019 will be electric or hybrids.
It is the first major traditional carmaker to set a date for completely phasing out engines solely powered by an internal combustion engine.
This is a huge concern for South Africa’s R96 billion platinum industry.
Platinum is used for catalytic converters in cars powered by an internal combustion engine.
The Money Show’s Bruce Whitfield interviewed Vestact MD Paul Theron.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
45% of platinum is used in internal combustion engines.— Paul Theron, Vestact
Only about 400 000 electric or hybrid vehicles are currently produced per year.— Paul Theron, Vestact
The platinum price is down 16% over the last year.— Paul Theron, Vestact
Despite weak production there is a long-term demand concern.— Paul Theron, Vestact
Platinum stocks are looking weak against this backdrop.— Paul Theron, Vestact
Anglo American was worth four times more back in 2008/2009.— Paul Theron, Vestact
Maybe we should dig it all out of the ground now?— Paul Theron, Vestact
Greedy politicians, unionists and capitalists should not take this for granted.— Paul Theron, Vestact
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