Not sure it's 'woke' to notice the uptake in NEVs.
New car sales in China are now 50% NEVs and expected to be 60% by years end. Legacy manufacturers are rapidly losing market share in China and are going bust and pulling out. In around 3 years 100% of new car sales in China will be NEVs.
With the amount of cars China manufacturers and sells around the world they are the leaders of the pack in the NEV space. ICE will be mostly dead in under 10 years worldwide. China has a massive advantage in this space and will dominate the world in car sales.
Lithium price has dropped to current price range due to 1) Big drop in sales from Dec to Mar this year (seasonal) and 2) them sourcing supply from Africa
However it's dropped too far and a lot of suppliers are losing money. Supply is dropping off and only the lowest cost producers will survive and will dominate the market in the coming upturn.
Ann: FY24 Full Year Financial Results Presentation, page-98
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