2017 over supply myth busted, page-22

Needle, it seems you are lost in the haystack!
Your numbers and maths needs some checking. Don't you remember the maths teacher emphasising to check your work before you submit it?!
A typical EV requires about 50-70kg of LCE; a bit less for a low-range model... So, that's about (ballpark) 50,000t per million vehicles. Last year, the amount of Li-ion EV batteries made required <100,000t LCE. That feeds about 2 million cars, give or take.
Forget what happened last year though. Think about what will happen in the coming years. Pick a number for EV penetration in say 2025. Let's say 50%. That is 50 million vehicles. That requires 2.5 million tonnes LCE. Oops, where will that come from? Ok, say 20%. That requires 1 million tonnes LCE. Say 500,000 LCE from Brine, and 3.5 million tonnes of spodumene (7:1 spod:LCE?). Oops, where will that come from.
See the pattern..?

Perhaps the total number of car sales will drop, as autonomous EVs and car-as-a-service becomes reality... I don't know, but I can tell you one thing - When the economics favour EVs, almost no-one buying a new car will want an ICE vehicle. ...and that time is fast approaching.. Perhaps only 3 or 4 years away.
I suggest that anyone who hasn't seen it, go to YouTube, search Tony Seba, and watch his hour-long vid from about 4 months ago.
Things are changing, real fast. Technology disruption, exponential growth. Perfect storm.
A toddler today won't even get a driver's licence when they are 17. They won't need nor want one.
They'll have an app for that.

Oversupply?
Just look at the "expert" assessment of mobile phone penetration in that vid. Out by 2 orders of magnitude. Too many experts, not enough foresight. Exponential growth; repeatedly missed in all the forecasts. Just go back to 2021 battery manufacture forecasts from 1/2/3 years ago. Massive revisions upwards each year.
Imo, demand will start to explode over next 3 years and no chance of oversupply for maybe 10.

Good luck with your investment decisions, but predict oversupply and dropping prices at your peril, imo.

Remember, supply/demand dictates pricing, and there is plenty of room to move - LCE price can still triple from here, and have a sub-$1000 impact on EV battery pack cost. All good.

I hold Galaxy firmly and sleep well at night. Not worried that it is over 40% of my portfolio. Battery materials make up 90% of my holdings.
A once in a century disruption that will unfold in an amazing and unbelievable way.

Patience grasshoppers; if you are here, you are into a winner imo.

IMO DYOR you know the drill...

Cheers