..what lithium hodlers are slow to recognise is that EV is not synonymous with Lithium.
..the reason Lithium price soared in 2020-21 is because there was strong expectations of high y-o-y EV growth in the order of 50% at the time along with a major concern of insufficient supply to meet that demand when fewer producers enjoyed first-mover advantage.
..the high lithium price encouraged the sprouting of many lithium projects worldwide, while we know EV demand growth moderated substantially outside of China.
..now a much lower lithium price helps boost China EV growth - what is good for EV is not good (or as good) for lithium. So citing EV growth as if it will necessarily be providing a boost to lithium price is a bit like saying with more ICE vehicles sold, oil price must surely rise.
