CLQ Chart/Price, page-108

Quotas are based similar to the revised subsidies from June, towards range, likely to continue the higher growth rate HEV, but you are totally missing big picture, the MASS of electrification required and the very limited time frame to avoid financial penalties.

EU presents a similar dilemma where Govt's are shifting from high subsidies for a very small portion of total fleet to steep financial penalties across an aggregate of total fleet.

China is looking to dramatically improve quality with a range criteria, after 54% of 2017 BEV ended up electrified rickshaws, whereas EU can set straight emissions targets with a very similar credit & debit scheme for individual auto makers.

Here's three projections on the EU makeup of manufacturers mix to achieve that MASSED result, mid range 91% electrified drives, only 20% carrying half tonne torch batteries. Given China's massive urban centres BEV likely higher, but other major mkts such as US likely lower.



Investing in the belief demand for battery inputs BEV will float all boats a bridge too far IMO.