....the BOLD highlighted is not very reassuring for lithium...

....the BOLD highlighted is not very reassuring for lithium hodlers.

....BYD being the No.1 EV seller, sells more hybrids (PHEV) than EVs

....BYD does not make any impact on the spot market- it gets its lithium from its own Chinese and Chile mines.

....Which is why EV growth has not translated into higher lithium pricing.

1/#BYD sells record 373,083 cars in Aug, PHEVs hit 6th consecutive month of record sales: https://cnevpost.com/2024/09/01/byd-sales-aug-2024/… YTD, it sold 1,004,623 BEVs (43%) & 1,314,175 PHEVs (57%), totalling 2,318,798 passenger NEVs. BEVs were up 12% y-o-y, while PHEVs were up 48% y-o-y.
https://x.com/jczuleta/status/1830434100512965096

2/ Assuming battery capacities of 63.2% kWh & 23 kWh for BEVs & PHEVs, respectively, it is possible to estimate BYD's consumption of 74,975 mt LCE for the first 8 months of the year & 112,462 mt LCE for 2024. This would represent about 48% of Chile's #lithium production in 2023.
https://x.com/jczuleta/status/1830436634292003127