For price in the EV context. Tesla uses an estimated 0.9kg of Lithium Carbonate Equivalent (LCE) per kWh of battery. A Model 3 has a battery of 50kWh in the standard range vehicle. So closing in on US$4K of LCE per Model 3.
50 x 0.9 = 45kg LCE @ $85/kg = US$3825
Vehicle makers have no choice, they must have the EV batteries.
Chinese chemical converters squeezed hard on their margins as we've seen in the last fortnight on pricing - SC6 now at 9.5% of Hydroxide.
Supply comes online ...very...slowly as LTR holders appreciate.
I just can't see this pricing/power shift to the raw material producers falling away anytime soon. But I suspect something is going to give. Could be Tesla buying a mine or two or three to guarantee supply at extraction cost. Might be BYD or a surprise S. Korean car play. I have the popcorn ready for 2023.
FA & General Banter, page-19436
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