Nickel-Cobalt are seen as the future for electric vehicles, renewable storage and backup etc. They have a similar energy density as Li-ion, have cheaper manufacturing costs, don't present a fire hazard and therefore don't need about 25% of their volume and weight taken up with charge-discharge temperature control electronics like Li-ion batteries, can be charged from 0 to 100% in 30 minutes, have no memory effect or deep discharge loss of capacity and when they do eventually wear out they can be reconditioned more cheaply just by remanufacturing the electrodes.
http://www.nickelcobaltbattery.com/They are the next generation battery and the key to mass-market viable electric transport. Elon Musk has invested $1bn in a mass manufacturing plant for their mass production. So far, so good, the futures bright it is Nickel-Colbolt batteries.
Except for what has been termed the Cobalt-Cliff. About 150,000tons are mined and smelted every year with about 90,000tons in China and 60,000tons in the rest of the world. About 60,000tons are globally used in traditional industries which are not as cost critical as batteries and China is committed to using the majority of their Cobalt production for their own nickel-cobalt battery production. Current estimates are that by 2025 there will be a 25,000ton shortfall in cobalt production with this only getting worse as demand for nickel-cobalt batteries grows where governments are now committing to all-electric cars by 2040. The only two solutions are that unknown new global supplies of cobalt are found, which currently is not looking likely or a new different battery technology comes along in what is a very short timescale where battery development, testing and longterm reliability is not a quick development cycle.
https://notalotofpeopleknowthat.wordpress.com/2017/11/25/the-cobalt-cliff/Finally, what is the situation with Elon Musk's $1bn battery production facility?
Well, it looks like he may not have secured supplies of cobalt to make them and several investors are now getting twitchy and are threatening to sue him if he can't prove he has secured a suitable supply chain for cobalt.