China EV sales for 1st half of 2018 is 350K, 120% up from same time last year. June EV figure is 71K, 74% up from same period last year, 22% less than that of May 2018. The low June figure is due to the new EV subsidies introduced in mid June. However, the three main EV producers in China have all fared well in June with their models. If this trend last, then we will see triple digit growth coming up in 3rd and 4th quarters too. Again, I like to say that given the EV growth rate, everyone major auto will have to get in quickly. I am also following Tesla tracker site and it seemed that for the last two weeks, Tesla might have reached 5000/week mark. If another two or three close to 5000/week mark come up, then the US market is looking to double EV sales easily.
In essence, one off take partner or two off take partners does not affect any medium term SP for AJM or any promising Li miners, in my opinion.
AJM Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
