...sure, China is only where the real EV growth is, but at the expense of a lower lithium price.
...it so happens that EV is not growing fast everywhere, except China, so this allows lithium demand to remain in balance with supply, ensuring lithium price stays reasonably cheap. If EV growth was uniformly high across the world, then we could expect lithium demand to outstrip supply.
...so that works well for EV makers, not so for lithium producers banking/hoping for a higher lithium price.
China YTD May EV sales up 34% Yoy. At this growth rate, 2024 sales would reach 11 million EVs. A growth of almost 3 million. Much higher than the 1.5-2.0 growth forecasts show.
