Glencore (GLCNF) CEO Ivan Glasenberg said today that the increase in electric car manufacturing will substantially boost demand for minerals including copper and lithium, Bloomberg reports.

Glencore is an Anglo-Swiss multinational commodity trading and mining firm headquartered in Baar, Switzerland.

"The electric vehicle revolution is happening and its impact is likely to be felt faster than expected," Glasenberg told investors at an industry conference in Barcelona. "Almost all carmakers are increasing investment in electric vehicles as governments adopt tighter emissions targets."

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