At least the macroeconomic is in favour of Lithium price to remain high.
But overnight US lithium stocks ie. ALB / SQM are down, will we follow or can cxo hold its gain today.
Since April 23, ALB sp has seen lows $173 and peak $243 in July, currently on $208. Need ALB sp to go back up so oz lithium stocks can follow.
Chinese electric vehicle startups, namely Nio (NYSE:NIO), XPEVLi Auto (NASDAQ:LI), and Xpeng (NYSE
, disclosed their July delivery results, with Li Auto emerging as the leader, delivering an impressive 34,134 units, marking a remarkable year-on-year surge of 227.5%. This achievement signifies the second consecutive month during which Li Auto surpassed 30,000 deliveries.
“As a preferred premium automotive brand for Chinese families, we successfully delivered our 400,000th vehicle in July, becoming the first emerging NEV manufacturer in China to achieve this milestone,” commented Xiang Li, chairman and chief executive officer of Li Auto.
Nio came in behind LI with a remarkable 103.6% YOY increase, topping 20,000 units for the first time. Nio’s deliveries included 14,066 premium smart electric SUVs and 6,396 premium smart electric sedans. As of July 31, 2023, Nio's cumulative deliveries of vehicles reached an impressive 364,579.
The lackluster first half of 2023 is now behind us, and we are starting to see an inflection point of meaningful operational improvement," Morgan Stanley analysts wrote in a note.
