ASX Today, page-36822

Not sure why some are saying that the growth of hybrids is a bad thing for LTR. It all adds to demand. The question being, is hybrids detracting from EV sales or ICE sales??? Are they the people that want and EV but have range anxiety??? Given EVs are still growing significantly globally you may argue the later. The main difference is that while BEVs have batteries that are 40-80kWhs typically, hybrids are more likely to be around 10-15kWh. Interestingly we are starting to see new hybrid vehicles that are increasing their battery size like the Outlander moving to 20kWh. Will this be a growing trend? Cost wise, longer term EVs will kill hybrids as the later is basically requiring two types of drive systems. Also, expect lithium in hybrids to be very important to keep the weight down given all the extra stuff on board.