Premium carmakers Ferrari and BMW are developing new models that use more aluminum and less copper in electrical wiring.
According to Reuters, the move aims to reduce production costs. European automakers follow a trend already set by several Chinese companies and Tesla.
JPMorgan estimates that the gradual reduction in copper use by automakers could cut global demand for the metal by about 2% this year.
Experts cited by Reuters say that amid rising copper prices and supply chain instability, more automakers may opt for cheaper aluminum in the near future.
Additionally, representatives from 18 car companies noted that aluminum not only lowers production costs but also helps reduce vehicle weight.
