Note - Bloomberg analysts have predicted that EV sales will reach 10m by 2025, or about 10% of the total fleet. However, this bar chart shows it will be far greater than that. Indeed, Tony Seba's prediction that there will be few, if any, ICE vehicles being sold by 2025 will almost certainly be proved correct.
Indulge me for a minute. If we extrapolate the bar chart from 2018 until we reach 10m vehicles, that occurs sometime in 2022 if we use a very conservative multiple of just 50% per year. If we take a more optimistic multiple of 70% we reach 10m vehicles mid-way through 2021 and 20m vehicles by 2022!!
Of course, this doesn't take into account the switch towards bigger batteries with a bigger percentage of nickel in them. With NMC 811 likely to be the norm by next year and some battery producers looking to make batteries with 90% nickel, the future for POS is even brighter and it's going to happen faster than any of us, except Tony Seba, imagine. There is no way that lithium or nickel producers can meet this demand. Hold on tight, is my recommendation.
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