...it is not a surprise that Chinese EV makers are experiencing...

...it is not a surprise that Chinese EV makers are experiencing strong growth, predominantly originating from and in China. We already know this.
...but all that EV growth did not result in higher lithium, Spodumene price growth, in fact they fell.
...the Chinese market is still draining excessive battery inventory oversupply
...and with all the growth centred in China, when the excess domestic inventory is exhausted, CATL and BYD the two primary EV battery makers would be sourcing their lithium supplies from Africa and South America primarily to bridge the gap, at spot pricing that is stable under their control.

...in other words, as I mentioned many times here, EV Growth does not necessarily translate into higher lithium pricing.
...the lack of EV growth in US an EU should continue to dampen any pressure to lift lithium spot pricing.


Delivery results from Chinese electric-vehicle makers showed that things have been getting better. That’s good for Tesla, and anyone else making EVs.

NIO said Monday it delivered 21,209 cars in June. Investors were looking for about 19,000 units. The June 2024 figure was a monthly record for NIO, the second consecutive month the EV maker’s deliveries set a record.


For the quarter, NIO delivered 57,373 cars, higher than the guidance given in June for deliveries of between 54,000 and 56,000 units. In the second quarter of 2023, NIO delivered 23,520 cars.

U.S.-listed NIO stock was up 7% in premarket trading, while S&P 500 and Dow Jones Industrial Average futures were down 0.2% and 0.3%, respectively. Coming into Monday, NIO stock has fallen 54% this year. Slowing demand growth for EVs and rising competition have weighed on investor sentiment.

While NIO topped its guidance, Li Auto reported numbers in line with its estimates. In June, Li delivered 47,774 cars. Investors were looking for about 47,000 vehicles. For the quarter, Li delivered 108,581, compared to guidance given in May for deliveries of between 105,000 and 110,000 units.

In the second quarter of 2023, Li delivered 86,533 cars. Li delivered 84,000 vehicles in the first quarter of 2024. All the numbers are going in the right direction.


Li stock traded in the U.S. was up 4% in premarket trading. Coming into Monday, Li stock has declined 52% in 2024.

XPeng, for its part, delivered 10,688 cars in June. Investors were looking for about 11,000 units. For the quarter, XPeng delivered 30,207, compared to guidance given in May for deliveries of between 29,000 and 32,000 units. A year ago, XPeng delivered 23,205 cars.

XPeng stock was 1.4% in premarket trading. Coming into Monday, XPeng stock has fallen 50% this year.

Combined, the trio delivered about 196,161 vehicles in the second quarter, up about 47% year over year and up from the 132,000 cars delivered in the first quarter of the year.

The June results offer investors some relief amid weak trading in EV stocks so far this year.