Chinese EV stocks tumble after BYD slashes prices up to 35%
China's BYD Beats Tesla in Europe for the First Time
These news above simply confirms that:
1. Despite already well ahead in EV price leadership, BYD is not taking anything for granted and remains in strong pursuit to sell more BYD EVs at much cheaper prices, possibly leaving any US/EU EV ambitions in the dust. And of course, the larger the market share of BYD in the EV space, the growth in EV sales won't be directly beneficial to lithium price as it is due to low lithium price which enables low EV battery cost to support an ever reduced EV price.
2. Tesla is fast losing market share in EU, no thanks to Elon himself, and that does not bode well for the lithium spot market.
