Yes, the overall price of batteries does increase but look to the relative price of graphite compared other materials in a battery and an EV, relatively it is small.
There is speculation that high EV prices could put pressure that industry however, I think the push for reduced fossil fuels will continue, maybe not at a governmental level in near future but will be pushed by consumers in the long term. The major manufacturers globally are heading towards predominate EV production and I think this will continue.
Also, EV's are a large part of battery use but not the only one. The US and likely Europeans are pushing to reduce reliance on China across the board especially where technology is concerned meaning they will also have to consider returning production locally or alternatives for consumer electronics (phones, computers etc). If the Inside China article is correct, there is $1.9B of batteries being targeted from China. I still suspect the US will rely on others to do the grunt work (they do not have the industry or regulatory framework or appetite atm) meaning Korea and Japan (to me). The "others" will need graphite.
Africa while rich in resources has a history of geopolitical issues. Supply chains will likely counter this with primary inclusion of tier 1 producers but may include secondary reliance on places like Africa to reduce/average costs.
The questions I still ask include what type of product potential customers will need? If Mitsubishi has solved the (natural) graphite expansion riddle, will this make natural more attractive or will the price or production (petcoke, electricity etc) and ESG compliance (will ESG still be a thing? The US and our coalition are pushing towards removing emissions production reporting) of synthetic continue to be attractive?
Just my speculation.
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