..what lithium hodlers are slow to recognise is that EV is not...

..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.

EV/Lithium, 74644371, page-785 | HotCopper Forum