EV/Lithium, page-425

Interesting Norway auto statistics:
1. Auto sales are falling this year compared to last
2. Tesla sales cratered
3. Chinese EVs gaining traction but still small % of total despite high growth %

tells us:
1. Global auto industry going through a rough patch, presenting itself as headwinds for all other industries relating to it
2. Outside of China, the poster boy for EVs, Norway still has a low EV penetration rate
3. Prior high EV sales growth could be attributable to early adopters who generally go for Tesla, the uptake gets more challenging now with early majority buyers.

In Norway, Tesla sales are down 43% in the first 4 months compared to 2023.

BYD sales in same period up from 200 to 800.

Norway the poster boy of EVs Country has Second highest GDP but only 11% of households have an EV. Despite EVs being cheaper than ICEs.

https://x.com/Big_Orrin/status/1793708433356849360
Norway - Flash report, Automotive sales volume, 2024 - MarkLines Automotive Industry Portal