Great comment...unfortunately, no EV's produced outside of China...

Great comment...unfortunately, no EV's produced outside of China use natural graphite anode grades and use primary synthetic anode grades...due to higher available capacity rates in China for primary synthetic graphite powders, costs to produce primary synthetic graphite for batteries is considerably less expensive to produce than natural graphite anode grades...the one of many elephants in the room that no one seems to want to acknowledge is the carbon / coke precursors from oil refining used in primary synthetic production is considered a recycled or repurposed product for battery and other applications, hence a lower carbon footprint and electricity used to produce primary synthetic graphite comes from wind, solar, and hydro whereas natural graphite production does not.

Natural graphite anode production does not have a path forward with current production and demand economics in play. I would wager a guess that by 2028, SYR will still be in qualifications pontificating to the market the production is near term...sounds vaguely familiar from 2021.

BTW, ALL carbon conductive additives must be qualified from commercial steady state production and no MOU or LOI is bankable until qualifications are complete on commercially produced conductive additives and a supply agreement is in place...keep in mind that ALL secondary battery formats and chemistries are generational requiring new conductive additive qualifications with each new generation of secondary battery.