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The rise of electric vehicles was expected to significantly decrease demand for PGMs, which are crucial for catalytic converters in gasoline-powered vehicles. However, a slowdown in EV sales growth and a surge in hybrid car sales are providing a lifeline to the PGM industry.

PGMs Find New Hope

The future of platinum group metals (PGMs) looked bleak just a few years ago when electric vehicle sales were soaring. PGMs, primarily platinum and palladium, are essential components of catalytic converters in gasoline-powered vehicles, a technology not required in EVs. This led to concerns about a steep decline in PGM demand.

However, the landscape has shifted. Growth in EV sales has slowed down considerably, reaching only 11% year-on-year in the first half of 2024. Conversely, sales of hybrid cars, which still require catalytic converters, have jumped by 44% during the same period.

This unexpected development offers a glimmer of hope for the PGM industry. Analysts believe the rise of hybrids could last until 2030 or even longer, potentially delaying the decline in PGM demand.

Factors Driving the Hybrid Surge

Several factors are contributing to the unexpected popularity of hybrid cars:

Slowdown in EV Sales Growth: The initial boom in EV sales has plateaued, with significantly lower growth rates compared to previous years.

Plug-in Hybrid (PHEV) Popularity: Sales of PHEVs, which combine electric and gasoline engines, are experiencing significant growth, especially in China. PHEVs require slightly more PGMs than traditional gasoline vehicles.

Consumer Preferences: Surveys suggest a growing number of consumers are opting for PHEVs over pure EVs due to concerns about limited driving range and the lack of charging infrastructure for EVs.

Automaker Strategies: Many car manufacturers are prioritising hybrids due to their higher profit margins compared to EVs. Some companies have even scaled back their EV production plans.

Positive Outlook for PGMs

The shift towards hybrids is expected to benefit PGM demand in a few ways:

Increased Catalyst Needs: Every additional million hybrid cars sold creates a demand for roughly 150,000 ounces of PGMs.

Extended PGM Usefulness: The hybrid market's potential longevity offers a buffer for the PGM industry, extending the use of these metals for several additional years. 
Higher Margins for Automakers: Auto companies see better margins with hybrids compared to EVs.

Impact on Battery Materials

While the hybrid trend might dampen demand for key battery materials like cobalt and nickel used in pure EVs, it offers a much-needed boost to the PGM industry. This unexpected development could provide some stability for PGM prices and support the longevity of the sector.

Looking Forward

The future of PGMs remains uncertain in the long run. However, the rise of hybrid cars offers a temporary reprieve for the industry. The long-term viability of PGMs will depend on factors like the pace of EV development, battery technology advancements, and consumer preferences. 
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The rise of electric vehicles was expected to significantly decrease demand for PGMs, which are crucial for catalytic converters in gasoline-powered vehicles. However, a slowdown in EV sales growth and a surge in hybrid car sales are providing a lifeline to the PGM industry.

The rise of electric vehicles was expected to significantly decrease demand for PGMs, which are crucial for catalytic converters in gasoline-powered vehicles. However, a slowdown in EV sales growth and a surge in hybrid car sales are providing a lifeline to the PGM industry. PGMs Find New Hope The future of platinum group metals (PGMs) looked bleak just a few years ago when electric vehicle sales were soaring. PGMs, primarily platinum and palladium, are essential components of catalytic converters in gasoline-powered vehicles, a technology not required in EVs. This led to concerns about a steep decline in PGM demand. However, the landscape has shifted. Growth in EV sales has slowed down considerably, reaching only 11% year-on-year in the first half of 2024. Conversely, sales of hybrid cars, which still require catalytic converters, have jumped by 44% during the same period. This unexpected development offers a glimmer of hope for the PGM industry. Analysts believe the rise of hybrids could last until 2030 or even longer, potentially delaying the decline in PGM demand. Factors Driving the Hybrid Surge Several factors are contributing to the unexpected popularity of hybrid cars: Slowdown in EV Sales Growth: The initial boom in EV sales has plateaued, with significantly lower growth rates compared to previous years. Plug-in Hybrid (PHEV) Popularity: Sales of PHEVs, which combine electric and gasoline engines, are experiencing significant growth, especially in China. PHEVs require slightly more PGMs than traditional gasoline vehicles. Consumer Preferences: Surveys suggest a growing number of consumers are opting for PHEVs over pure EVs due to concerns about limited driving range and the lack of charging infrastructure for EVs. Automaker Strategies: Many car manufacturers are prioritising hybrids due to their higher profit margins compared to EVs. Some companies have even scaled back their EV production plans. Positive Outlook for PGMs The shift towards hybrids is expected to benefit PGM demand in a few ways: Increased Catalyst Needs: Every additional million hybrid cars sold creates a demand for roughly 150,000 ounces of PGMs. Extended PGM Usefulness: The hybrid market's potential longevity offers a buffer for the PGM industry, extending the use of these metals for several additional years. Higher Margins for Automakers: Auto companies see better margins with hybrids compared to EVs. Impact on Battery Materials While the hybrid trend might dampen demand for key battery materials like cobalt and nickel used in pure EVs, it offers a much-needed boost to the PGM industry. This unexpected development could provide some stability for PGM prices and support the longevity of the sector. Looking Forward The future of PGMs remains uncertain in the long run. However, the rise of hybrid cars offers a temporary reprieve for the industry. The long-term viability of PGMs will depend on factors like the pace of EV development, battery technology advancements, and consumer preferences.

Hybrid cars offer a lifeline to platinum group metals threatened by EVs

An extraordinary surge of intense radiation took place across the solar system on October 9, 2022.&nbsp;This unprecedented phenomenon was promptly dubbed as BOAT (the Brightest of All Time) by astronomers and it captured immediate attention. The origin of this phenomenon was identified as a gamma-ray burst (GRB) and it is the most powerful category of explosions known in the universe. Now, a shocking discovery has come to the fore - no gold or platinum was formed by this brightest supernova.&nbsp;

After a meticulous analysis of the gathered data, astronomers have gained a deeper understanding of its profound scientific implications. They have revealed astonishing findings regarding this monumental cosmic event, the collapse of a massive star.

This burst of light, dubbed GRB 221009A, occurred over two billion light-years away and momentarily dazzled space instruments.&nbsp;A recent analysis using the data from NASA's James Webb Space Telescope (JWST) shows what could be the event's origin. Contrary to expectations, the researchers found no traces of precious metals like platinum and gold, typically associated with supernovas.

<h2>Collapse of a massive star&nbsp;</h2>

Dr. Peter Blanchard, leading the study, expressed surprise, stating, “When we confirmed that the GRB was generated by the collapse of a massive star, that gave us the opportunity to test a hypothesis for how some of the heaviest elements in the universe are formed."

Also Read |&nbsp;<a href="https://www.wionews.com/science/who-is-aroh-barjatya-indian-origin-professor-who-led-nasa-mission-during-solar-eclipse-710584">Who is Aroh Barjatya? Indian-origin professor who led NASA mission during solar eclipse</a>

The absence of these heavy elements challenges existing theories about their formation and is now triggering further inquiry into the cosmic processes at play.

“We did not see signatures of these heavy elements, suggesting that extremely energetic GRBs like the Boat do not produce these elements. That doesn’t mean that all GRBs do not produce them, but it’s a key piece of information as we continue to understand where these heavy elements come from. Future observations with JWST will determine if the Boat’s ‘normal’ cousins produce these elements,"&nbsp;Blanchard said.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/science/spinal-cords-can-make-their-own-memories-neuroscientists-reveal-710548">Spinal cords can make their own memories, neuroscientists reveal</a>

While the exact cause of the supernova's brilliance remains uncertain, researchers speculate that the release of powerful plasma jets may have contributed to its intensity.

WATCH | Apple secretly collects user data: Study

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GRB 221009A is believed to be the most luminous burst in X-ray and gamma-ray energies.

Leading an investigation involving around 7,000 GRBs, primarily detected by NASA's Fermi Gamma-ray Space Telescope and the Russian Konus instrument on NASA's Wind spacecraft, Eric Burns, an assistant professor of physics and astronomy at Louisiana State University in Baton Rouge,&nbsp;sought to determine the frequency of such exceptionally bright events. Their findings indicated that occurrences of this magnitude happen nearly once every 10,000 years.

(With inputs from agencies)

An extraordinary surge of intense radiation took place across the solar system on October 9, 2022. This unprecedented phenomenon was promptly dubbed as BOAT (the Brightest of All Time) by astronomers and it captured immediate attention.

An extraordinary surge of intense radiation took place across the solar system on October 9, 2022. This unprecedented phenomenon was promptly dubbed as BOAT (the Brightest of All Time) by astronomers and it captured immediate attention. The origin of this phenomenon was identified as a gamma-ray burst (GRB) and it is the most powerful category of explosions known in the universe. Now, a shocking discovery has come to the fore - no gold or platinum was formed by this brightest supernova. After a meticulous analysis of the gathered data, astronomers have gained a deeper understanding of its profound scientific implications. They have revealed astonishing findings regarding this monumental cosmic event, the collapse of a massive star. This burst of light, dubbed GRB 221009A, occurred over two billion light-years away and momentarily dazzled space instruments. A recent analysis using the data from NASA's James Webb Space Telescope (JWST) shows what could be the event's origin. Contrary to expectations, the researchers found no traces of precious metals like platinum and gold, typically associated with supernovas. Collapse of a massive star Dr. Peter Blanchard, leading the study, expressed surprise, stating, “When we confirmed that the GRB was generated by the collapse of a massive star, that gave us the opportunity to test a hypothesis for how some of the heaviest elements in the universe are formed." Also Read | Who is Aroh Barjatya? Indian-origin professor who led NASA mission during solar eclipse The absence of these heavy elements challenges existing theories about their formation and is now triggering further inquiry into the cosmic processes at play. “We did not see signatures of these heavy elements, suggesting that extremely energetic GRBs like the Boat do not produce these elements. That doesn’t mean that all GRBs do not produce them, but it’s a key piece of information as we continue to understand where these heavy elements come from. Future observations with JWST will determine if the Boat’s ‘normal’ cousins produce these elements," Blanchard said. Also Read | Spinal cords can make their own memories, neuroscientists reveal While the exact cause of the supernova's brilliance remains uncertain, researchers speculate that the release of powerful plasma jets may have contributed to its intensity. WATCH | Apple secretly collects user data: Study × GRB 221009A is believed to be the most luminous burst in X-ray and gamma-ray energies. Leading an investigation involving around 7,000 GRBs, primarily detected by NASA's Fermi Gamma-ray Space Telescope and the Russian Konus instrument on NASA's Wind spacecraft, Eric Burns, an assistant professor of physics and astronomy at Louisiana State University in Baton Rouge, sought to determine the frequency of such exceptionally bright events. Their findings indicated that occurrences of this magnitude happen nearly once every 10,000 years. (With inputs from agencies)

Shocking revelation! No Gold and Platinum formed by brightest supernova

The Queen has suddenly pulled out of her Jubilee thanksgiving service at St Paul’s Cathedral after being stricken with pain during Buckingham Palace parade. Britain is celebrating Queen Elizabeth's 70-year reign.

Queen's platinum jubilee celebrations: St Paul's hosts thanksgiving service

The 96-year-old queen is the first British monarch in history to reach a Platinum Jubilee, which marks 70 years on the throne. Celebrations over four days will include parties, parades and public holidays.

Queen's platinum jubilee celebrations: Queen appears on palace balcony on Day 1 of the celebrations

Gold inched higher on Wednesday as market participants awaited a statement from the US&nbsp;Federal Reserve for hints on the central bank&#39;s monetary policy stance following its two-day meeting.

Markets are also keeping a close track on the naming of the next Fed chair, the Bank of England&#39;s policy meeting on Thursday and US&nbsp;payrolls data on Friday.

Spot gold rose 0.3 per cent to $1,275.36 per ounce at 0758 GMT.

US&nbsp;gold futures for December delivery were up 0.5 per cent at $1,276.50.

Gold dipped in the early Asian hours but interest out of China provided some support later, analysts said.

&quot;Shanghai saw a heightened premium around $9 as a result of lower spot price and physical demand out of the region acted to restrict further declines leading into European hours,&quot;&nbsp;MKS PAMP trader Sam Laughlin said in a note.

The terrorist attack in New York City on Tuesday, wherein a man driving a rented pickup truck mowed down pedestrians and cyclists killing eight people, prompted some risk-aversion demand, said Jeffrey Halley, a senior market analyst with OANDA.

The Fed is scheduled to release its statement following its meeting on Wednesday at 2 pm&nbsp;EDT.

&quot;A rate hike in December is largely priced into markets. However, investors are looking for the Fed stance on monetary policy: in particular, the inflation outlook and how the Federal Reserve wishes to respond,&quot;&nbsp;said John Sharma, an economist with National Australia Bank.

&quot;In other words, whether they are likely to adopt a &#39;wait and see&#39; mode, or get ahead of the curve. The latter will, of course, be negative for gold.&quot;

Meanwhile, Fed Governor Jerome Powell, seen as more dovish than other contenders for the post, has been favored to be named as the next Fed chair by Trump on Thursday.

In the wider markets, the dollar was flat against a basket of currencies, while Asian shares hit a 10-year high on Wednesday on the back of solid economic growth globally.

Among other precious metals, silver climbed 1.2 per cent to $16.88 an ounce. Platinum was up 1.4 per cent at $928.40 an ounce.

Palladium, which scaled an over two-week high at $995.90 per ounce earlier in the day, was up 1.3 per cent at $992.47 an ounce.

Gold dipped in the early Asian hours but interest out of China provided some support later

Gold inched higher on Wednesday as market participants awaited a statement from the US Federal Reserve for hints on the central bank's monetary policy stance following its two-day meeting. Markets are also keeping a close track on the naming of the next Fed chair, the Bank of England's policy meeting on Thursday and US payrolls data on Friday. Spot gold rose 0.3 per cent to $1,275.36 per ounce at 0758 GMT. US gold futures for December delivery were up 0.5 per cent at $1,276.50. Gold dipped in the early Asian hours but interest out of China provided some support later, analysts said. "Shanghai saw a heightened premium around $9 as a result of lower spot price and physical demand out of the region acted to restrict further declines leading into European hours," MKS PAMP trader Sam Laughlin said in a note. The terrorist attack in New York City on Tuesday, wherein a man driving a rented pickup truck mowed down pedestrians and cyclists killing eight people, prompted some risk-aversion demand, said Jeffrey Halley, a senior market analyst with OANDA. The Fed is scheduled to release its statement following its meeting on Wednesday at 2 pm EDT. "A rate hike in December is largely priced into markets. However, investors are looking for the Fed stance on monetary policy: in particular, the inflation outlook and how the Federal Reserve wishes to respond," said John Sharma, an economist with National Australia Bank. "In other words, whether they are likely to adopt a 'wait and see' mode, or get ahead of the curve. The latter will, of course, be negative for gold." Meanwhile, Fed Governor Jerome Powell, seen as more dovish than other contenders for the post, has been favored to be named as the next Fed chair by Trump on Thursday. In the wider markets, the dollar was flat against a basket of currencies, while Asian shares hit a 10-year high on Wednesday on the back of solid economic growth globally. Among other precious metals, silver climbed 1.2 per cent to $16.88 an ounce. Platinum was up 1.4 per cent at $928.40 an ounce. Palladium, which scaled an over two-week high at $995.90 per ounce earlier in the day, was up 1.3 per cent at $992.47 an ounce.

Gold edges higher; Fed statement in focus

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