ann: june q report out, page-5

On page 6, things are picking up in the e-bike sector. This alone should increase demand for battery grade lithium carbonate. So GXY needs to focus on quality....


"According to Navigant Research's recent report ‘Electric Bicycles’, growth of e-bikes in Europe is set to continue. The market in Europe is on track to grow to between 1.0 million and 1.2 million sales in 2013. Additionally, European Cycling Federation (ECF) data shows that between 2010 and 2011, ebike sales grew by 22% while car sales declined by 2%. North America is another important e-bike market and is growing at a steady pace. All these e-bikes use lithium batteries. China produces and sells between 25 million to 30 million e-bikes pa predominantly using lead acid batteries, (approx. 96%), however, the conversion rate to lithium batteries is increasing and forecast to reach 15% by 2015."