Numbers look a bit off to me. For starters global vehicle sales are currently something like 100m per year. Even allowing for some growth that means at most probably 1bn cars sold in the next 9 years. I don't think even the mega bulls are calling an 18% penetration rate on average over the next 9 years. This year is likely to be 2-3%.
I would say using an exponential curve at CAGR of 20% and average yearly auto sale of 100m that we have 41.6m EV's sold over the next 9 years. Every 1m vehicles is estimated to be 70kt of LCE. So based on that we have 2.91Mt of LCE required by 2027.
If we expect to hit say 15% penetration by 2027 (still not super bullish) it becomes 60.5m EV's and 4.2Mt of LCE over the next 9 years. That is only a compound growth of 28% yoy.
January sales this year were 90% higher than last year. It's hard to say where we will end up.
PLS is likely to produce about 700-800kt of LCE by 2027. ALB are aiming for 160kt of LCE by 2021. PLS will be producing 100kt of LCE. This shows you how bigger a player we are looking to be in the space.
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