Zerodha co-founder Nithin Kamath is elevating pink flags over the hidden price of electrical automobiles, warning that the EV increase could also be cleansing metropolis air on the expense of ravaged ecosystems, youngster labor, and coal-fired emissions.
In a stark submit on X, Kamath questioned whether or not the worldwide rush towards EVs is really sustainable or simply shifting air pollution out of sight. “Are we simply transferring air pollution from metropolis streets to biodiversity hotspots?” he wrote.
Kamath spotlighted Indonesia, the world’s prime nickel producer, accusing it of “strip-mining paradise islands.”
The Southeast Asian nation accounted for 51% of world nickel output in 2023. Mining operations on islands like Gag and Halmahera have led to deforestation and marine air pollution, threatening ecosystems and indigenous communities.
He additionally turned the lens on Congo, the place over 70% of the world’s cobalt is sourced — usually via harmful, small-scale mines using youngsters. “Congo destroys communities with youngster labour,” Kamath stated, echoing human rights watchdogs which have documented compelled evictions, youngster exploitation, and lethal working situations.
Kamath didn’t spare China both, accusing it of monopolizing the EV provide chain. “China controls the minerals that make EVs doable: 90% uncommon earths, 75% lithium, 80% tungsten,” he posted. Whereas China mines round 70% of uncommon earths, its true grip lies in processing — refining over 90% of the worldwide output — largely powered by coal.
“All of that is powered by coal crops,” Kamath added, highlighting the irony that EVs, hailed as inexperienced alternate options, are ceaselessly constructed and charged utilizing fossil fuels.
“Cleaner streets, sure. However at the price of dirtier oceans, shattered communities, and forgotten islands?” he requested, concluding with a stark indictment of humanity’s tech-first mindset: “Understanding us, we’ll at all times chase ‘higher expertise’ over what’s higher for the planet.”
