...now it doesn't take a genius to figure out where most of the lithium is being consumed.
...even Tesla has some 50-60% of its production made in China.
What happens when we separate China EV growth from global EV growth in 2024?
EV Growth Rates 2024 (f)
China: +32%
USA : +9%
Europe: +2% (diminished by Germany)
Germany: -16% (incentives went away)
Japan: -12%
China buys more EVs than all other markets combined.
Takeaway:
China: sprinting
America: jogging
Europe: strolling
Germany and Japan: backsliding
Source: ACEA, company reports, Bloomberg, CADA
