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The Massive Impact of EVs on Commodities in One Chart

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The Massive Impact of EVs on Commodities in One Chart

The Massive Impact of EVs on Commodities

How demand would change in a 100% EV world

The Chart of the Week is a weekly Visual Capitalist feature on Fridays.

What would happen if you flipped a switch, and suddenly every new car that came off assembly lines was electric?

It’s obviously a thought experiment, since right now EVs have close to just 1% market share worldwide. We’re still years away from EVs even hitting double-digit demand on a global basis, and the entire supply chain is built around the internal combustion engine, anyways.

At the same time, however, the scenario is interesting to consider. One recent projection, for example, put EVs at a 16% penetration by 2030 and then 51% by 2040. This could be conservative depending on the changing regulatory environment for manufacturers – after all, big markets like China, France, and the U.K. have recently announced that they plan on banning gas-powered vehicles in the near future.

The Thought Experiment

We discovered this “100% EV world” thought experiment in a UBS report that everyone should read. As a part of their UBS Evidence Lab initiative, they tore down a Chevy Bolt to see exactly what is inside, and then had 39 of the bank’s analysts weigh in on the results.

After breaking down the metals and other materials used in the vehicle, they noticed a considerable amount of variance from what gets used in a standard gas-powered car. It wasn’t just the battery pack that made a difference – it was also the body and the permanent-magnet synchronous motor that had big implications.

As a part of their analysis, they extrapolated the data for a potential scenario where 100% of the world’s auto demand came from Chevy Bolts, instead of the current auto mix.

The Implications

If global demand suddenly flipped in this fashion, here’s what would happen:

MaterialDemand increaseNotes
Lithium2,898%Needed in all lithium-ion batteries
Cobalt1,928%Used in the Bolt's NMC cathode
Rare Earths655%Bolt uses neodymium in permanent magnet motor
Graphite524%Used in the anode of lithium-ion batteries
Nickel105%Used in the Bolt's NMC cathode
Copper22%Used in permanent magnet motor and wiring
Manganese14%Used in the Bolt's NMC cathode
Aluminum13%Used to reduce weight of vehicle
Silicon0%Bolt uses 6-10x more semiconductors
Steel-1%Uses 7% less steel, but fairly minimal impact on market
PGMs-53%Catalytic converters not needed in EVs

Some caveats we think are worth noting:

The Bolt is not a Tesla
The Bolt uses an NMC cathode formulation (nickel, manganese, and cobalt in a 1:1:1 ratio), versus Tesla vehicles which use NCA cathodes (nickel, cobalt, and aluminum, in an estimated 16:3:1 ratio). Further, the Bolt uses an permanent-magnet synchronous motor, which is different from Tesla’s AC induction motor – the key difference there being rare earth usage.

Big Markets, small markets:
Lithium, cobalt, and graphite have tiny markets, and they will explode in size with any notable increase in EV demand. The nickel market, which is more than $20 billion per year, will also more than double in this scenario. It’s also worth noting that the Bolt uses low amounts of nickel in comparison to Tesla cathodes, which are 80% nickel.

Meanwhile, the 100% EV scenario barely impacts the steel market, which is monstrous to begin with. The same can be said for silicon, even though the Bolt uses 6-10x more semiconductors than a regular car. The market for PGMs like platinum and palladium, however, gets decimated in this hypothetical scenario – that’s because their use as catalysts in combustion engines are a primary source of demand.

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Technology

Mapped: How Much Netflix Costs in Every Country

This map of Netflix price by country shows how much a basic subscription package costs around the world.

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Mapped: Netflix Price by Country

This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.

Netflix, the renowned streaming giant, has transformed the way we consume entertainment, providing a vast library of movies, TV shows, and documentaries at the touch of a button.

However, the cost of accessing this digital haven varies significantly from country to country, reflecting economic disparities and market dynamics.

This graphic from Preyash Shah maps Netflix price by country, using standard (basic) package subscription monthly rates from Netflix.com and converting to USD as of December 10, 2023.

What is the Netflix Price by Country?

Across 244 countries and territories that had Netflix available in December of 2023, Switzerland was the most expensive at $21.48 per month. That was $5 more than the second-most-expensive country on the list.

CountriesNetflix Cost (USD)
🇦🇫 Afghanistan$7.99
🇦🇽 Åland Islands$12.92
🇦🇱 Albania$8.61
🇩🇿 Algeria$7.99
🇦🇸 American Samoa$15.49
🇦🇩 Andorra$14.00
🇦🇴 Angola$7.99
🇦🇮 Anguilla$12.99
🇦🇬 Antigua & Barbuda$12.99
🇦🇷 Argentina$3.57
🇦🇲 Armenia$10.76
🇦🇼 Aruba$12.99
🇦🇺 Australia$11.19
🇦🇹 Austria$14.00
🇦🇿 Azerbaijan$10.76
🇧🇸 Bahamas$12.99
🇧🇭 Bahrain$10.49
🇧🇩 Bangladesh$7.99
🇧🇧 Barbados$15.29
🇧🇾 Belarus$10.76
🇧🇪 Belgium$14.54
🇧🇿 Belize$5.99
🇧🇯 Benin$9.99
🇧🇲 Bermuda$12.99
🇧🇹 Bhutan$7.99
🇧🇴 Bolivia$5.99
🇧🇦 Bosnia & Herzegovina$8.61
🇧🇼 Botswana$7.99
🇧🇻 Bouvet Island$9.99
🇧🇷 Brazil$8.10
🇮🇴 British Indian Ocean Territory$7.99
🇻🇬 British Virgin Islands$12.99
🇧🇳 Brunei$11.99
🇧🇬 Bulgaria$8.61
🇧🇫 Burkina Faso$7.99
🇧🇮 Burundi$7.99
🇰🇭 Cambodia$7.99
🇨🇲 Cameroon$7.99
🇨🇦 Canada$12.13
🇨🇻 Cape Verde$7.99
🇨🇰 Caribbean Netherlands$12.99
🇰🇾 Cayman Islands$12.99
🇨🇫 Central African Republic$7.99
🇹🇩 Chad$7.99
🇨🇱 Chile$9.58
🇨🇽 Christmas Island$7.99
🇨🇨 Cocos (Keeling) Islands$11.19
🇨🇴 Colombia$6.75
🇰🇲 Comoros$7.99
🇨🇬 Republic of the Congo$7.99
🇨🇩 Democratic Republic of the Congo$7.99
🇨🇰 Cook Islands$11.32
🇨🇷 Costa Rica$12.99
🇨🇮 Côte d’Ivoire$7.99
🇭🇷 Croatia$8.61
🇨🇺 Cuba$5.99
🇨🇼 Curaçao$12.99
🇨🇾 Cyprus$11.84
🇨🇿 Czechia$11.42
🇩🇰 Denmark$16.46
🇩🇯 Djibouti$7.99
🇩🇲 Dominica$5.99
🇩🇴 Dominican Republic$7.99
🇪🇨 Ecuador$7.99
🇪🇬 Egypt$3.88
🇸🇻 El Salvador$7.99
🏴󠁧󠁢󠁥󠁮󠁧󠁿 England$7.99
🇪🇪 Estonia$7.99
🇪🇹 Ethiopia$10.76
🇫🇰 Falkland Islands$7.99
🇫🇴 Faroe Islands$7.99
🇫🇯 Fiji$12.99
🇫🇮 Finland$16.46
🇫🇷 France$7.99
🇬🇫 French Guiana$12.92
🇵🇫 French Polynesia$14.54
🇹🇫 French Southern Territories$13.46
🇬🇦 Gabon$11.99
🇬🇲 Gambia$12.92
🇬🇪 Georgia$7.99
🇩🇪 Germany$7.99
🇬🇭 Ghana$12.70
🇬🇮 Gibraltar$14.00
🇬🇷 Greece$7.99
🇬🇱 Greenland$14.00
🇬🇩 Grenada$11.84
🇬🇵 Guadeloupe$16.46
🇬🇺 Guam$5.99
🇬🇹 Guatemala$13.46
🇬🇬 Guernsey$15.49
🇬🇳 Guinea$7.99
🇬🇼 Guinea-Bissau$13.79
🇬🇾 Guyana$7.99
🇭🇹 Haiti$7.99
🇭🇲 Heard & McDonald Islands$5.99
🇭🇳 Honduras$5.99
🇭🇰 Hong Kong$9.99
🇭🇺 Hungary$7.99
🇮🇸 Iceland$9.99
🇮🇳 India$9.85
🇮🇩 Indonesia$14.00
🇮🇷 Iran$5.98
🇮🇶 Iraq$7.72
🇮🇪 Ireland$9.99
🇮🇲 Isle of Man$7.99
🇮🇱 Israel$16.15
🇮🇹 Italy$13.79
🇯🇲 Jamaica$12.67
🇯🇵 Japan$14.00
🇯🇪 Jersey$5.99
🇯🇴 Jordan$10.28
🇰🇿 Kazakhstan$13.79
🇰🇪 Kenya$7.99
🇰🇮 Kiribati$10.76
🇰🇼 Kuwait$4.52
🇰🇬 Kyrgyzstan$7.99
🇱🇦 Laos$9.99
🇱🇻 Latvia$10.76
🇱🇧 Lebanon$7.99
🇱🇸 Lesotho$10.76
🇱🇷 Liberia$7.99
🇱🇾 Libya$7.99
🇱🇮 Liechtenstein$7.99
🇱🇹 Lithuania$7.99
🇱🇺 Luxembourg$21.48
🇲🇴 Macau$10.76
🇲🇬 Madagascar$14.54
🇲🇼 Malawi$9.99
🇲🇾 Malaysia$7.99
🇲🇻 Maldives$7.99
🇲🇱 Mali$9.65
🇲🇹 Malta$11.99
🇲🇭 Marshall Islands$7.99
🇲🇶 Martinique$14.00
🇲🇷 Mauritania$15.49
🇲🇺 Mauritius$13.46
🇾🇹 Mayotte$7.99
🇲🇽 Mexico$7.99
🇫🇲 Micronesia$13.46
🇲🇩 Moldova$12.62
🇲🇨 Monaco$15.49
🇲🇳 Mongolia$10.76
🇲🇪 Montenegro$14.54
🇲🇸 Montserrat$7.99
🇲🇦 Morocco$8.61
🇲🇿 Mozambique$12.99
🇲🇲 Myanmar (Burma)$6.41
🇳🇦 Namibia$7.99
🇳🇷 Nauru$7.99
🇳🇵 Nepal$7.99
🇳🇱 Netherlands$11.99
🇳🇨 New Caledonia$7.99
🇳🇿 New Zealand$12.92
🇳🇮 Nicaragua$11.99
🇳🇪 Niger$11.32
🇳🇬 Nigeria$5.99
🇳🇺 Niue$7.99
🇳🇫 Norfolk Island$4.48
🇲🇰 North Macedonia$11.32
🇲🇵 Northern Mariana Islands$11.19
🇳🇴 Norway$8.61
🇴🇲 Oman$15.49
🇵🇰 Pakistan$9.99
🇵🇼 Palau$10.49
🇵🇸 Palestine$2.82
🇵🇦 Panama$15.49
🇵🇬 Papua New Guinea$7.99
🇵🇾 Paraguay$8.99
🇵🇪 Peru$7.99
🇵🇭 Philippines$5.99
🇵🇳 Pitcairn Islands$9.28
🇵🇱 Poland$7.19
🇵🇹 Portugal$7.99
🇵🇷 Puerto Rico$10.68
🇶🇦 Qatar$12.92
🇷🇪 Réunion$15.49
🇷🇴 Romania$9.99
🇷🇼 Rwanda$12.49
🇼🇸 Samoa$10.76
🇸🇲 San Marino$7.99
🇸🇹 São Tomé & Príncipe$7.99
🇸🇦 Saudi Arabia$14.00
🇸🇳 Senegal$7.99
🇷🇸 Serbia$11.47
🇸🇨 Seychelles$7.99
🇸🇱 Sierra Leone$8.61
🇸🇬 Singapore$7.99
🇸🇽 Sint Maarten$7.99
🇸🇰 Slovakia$13.02
🇸🇮 Slovenia$12.99
🇸🇧 Solomon Islands$10.76
🇸🇴 Somalia$8.61
🇿🇦 South Africa$7.99
🇬🇸 South Georgia & South Sandwich Islands$7.99
🇰🇷 South Korea$8.41
🇸🇸 South Sudan$9.99
🇪🇸 Spain$10.25
🇱🇰 Sri Lanka$7.99
🇧🇱 St. Barthélemy$14.00
🇸🇭 St. Helena$7.99
🇰🇳 St. Kitts & Nevis$5.99
🇱🇨 St. Lucia$7.99
🇲🇫 St. Martin$12.99
🇵🇲 St. Pierre & Miquelon$5.99
🇻🇨 St. Vincent & Grenadines$5.99
🇸🇩 Sudan$14.54
🇸🇷 Suriname$5.99
🇸🇯 Svalbard & Jan Mayen$7.99
🇸🇪 Sweden$5.99
🇨🇭 Switzerland$9.99
🇹🇼 Taiwan$12.32
🇹🇯 Tajikistan$21.48
🇹🇿 Tanzania$10.49
🇹🇭 Thailand$12.70
🇹🇱 Timor-Leste$7.99
🇹🇬 Togo$9.90
🇹🇰 Tokelau$7.99
🇹🇴 Tonga$7.99
🇹🇹 Trinidad and Tobago$11.32
🇹🇳 Tunisia$7.99
🇹🇷 Türkiye$12.99
🇹🇲 Turkmenistan$7.99
🇹🇨 Turks & Caicos Islands$3.38
🇹🇻 Tuvalu$10.76
🇺🇸 U.S. Outlying Islands$12.99
🇻🇮 U.S. Virgin Islands$7.99
🇺🇬 Uganda$9.99
🇺🇦 Ukraine$15.49
🇦🇪 United Arab Emirates$7.99
🇬🇧 United Kingdom$8.07
🇺🇸 United States$10.62
🇺🇾 Uruguay$13.79
🇺🇿 Uzbekistan$15.49
🇻🇺 Vanuatu$12.99
🇻🇦 Vatican City$10.76
🇻🇪 Venezuela$7.99
🇻🇳 Vietnam$14.00
🇼🇫 Wallis & Futuna$5.99
🇪🇭 Western Sahara$9.08
🇾🇪 Yemen$7.99
🇿🇲 Zambia$9.99
🇿🇼 Zimbabwe$7.99
Zambia$7.99
Zimbabwe$7.99

Other wealthy countries like Denmark, Ireland, and the U.S. were in the top five most expensive countries for Netflix subscriptions, ranging from $16.46 to $15.49.

On the opposite side of the pendulum, Pakistan had the lowest Netflix subscription cost at $2.82 per month. It was followed by Türkiye at $3.38 and Argentina at $3.57.

Several factors influence the flux in pricing of Netflix subscriptions across different nations. These include:

  • Economic Factors: Netflix tailors its prices to align with the purchasing power of consumers in each market. Countries with higher average incomes typically bear higher subscription costs.
  • Market Competition: The presence of strong local streaming services can exert downward pressure on Netflix prices, forcing it to adjust its offerings to remain competitive.
  • Content Licensing: The cost of acquiring content rights varies across regions, influencing the overall pricing structure. Countries with higher licensing fees may experience higher subscription costs.
  • Currency Fluctuations: Currency exchange rates can impact Netflix’s pricing model, leading to occasional adjustments or fluctuations in subscription costs.

While affordability remains a primary concern for consumers, Netflix’s pricing strategy also aims to balance accessibility with content acquisition and profitability.

As the streaming industry continues to evolve, it will be interesting to observe how Netflix adapts its pricing model to maintain its global dominance while catering to the diverse needs and preferences of its audience.

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