That’s a big assumption to make, inferring Tesla’s 1% decline in sales for a single period in a decade reflects the entire lithium market.
The actual situation is a combination of other ICE car manufacturers having successfully transitioned into the EV market, and other foreign companies such as BYD entering the US (and global) market increasing competition in a space which Tesla mostly had free reign for a long time.
Increased competition points to increased demand, which points to more supply required. Plus with Tesla’s innovation with their giga factories I think they’re on the cusp of a low-cost EV which would be game changer.
This is further evidenced by the massive number of refineries planned for opening outside of China. More refineries are required to meet the growing demand as the market attempts to relieve the anticipated battery chemistry bottlenecks within the downstream processing supply chain.
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