EV/Lithium, page-765

...lithium hodlers looking at EV growth to feel comfortable are not looking at the right place - they ought to be looking at the EV battery space which is the customer for all the lithium, not the EV makers.
....with EV batteries primarily produced in China, lithium consumption is primarily driven out of the Chinese market.
....even a large portion of ex-China EV market is served by EVs produced in China (by Tesla and other makes).
...both CATL and BYD which command 52% of the EV battery market are both vertically integrated with their own lithium mines. Which places no demand pressure on the lithium spot market.

Li-ion battery global market shares: https://cnevpost.com/2024/07/03/global-ev-battery-market-share-in-jan-may-2024/…. China leads the way with 64.5% global market share followed by South Korea with 22.3%, Japan with 4.7%, and others with 8.5%.
Chinese dominance in this key sector is more than evident.

https://x.com/jczuleta/status/1809024709243384318