China has over built capacity for demand so will flood the global market. Explains why Lithium prices will come off back to 2020/21 prices for a few years. Global recession will only add to excess capacity and delay peoples decision to purchase a EV.
SMCP Nov 2022Chinese EV battery producers will exceed domestic electric-car makers’ demand threefold in 2025: report
- EV battery makers will increase capacity six times between this year and 2025, according to a report in a newspaper run by the State Council
- After aggressive expansion, EV battery producers must secure more business from overseas carmakers to absorb the excess capacity, analysts say
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