Cheap oil is another signal of the impending death of the O&G...

Cheap oil is another signal of the impending death of the O&G sector as the fight each other for the last scraps left.
EV and Lithium future will not be derailed because the current and future battery industry is underpinned by the need for action on climate and mandated through legislation by the many developed governments globally on cutting emissions and going EV.

Europe is leading the way with banning ICE followed by the UK, and unofficially the chinese govt.

The China case is interesting one because theirs is a controlled society and it is abundantly clear that the Chinese govt is wanting cleaner air and healthier future for their environment - they recognise it is so important to start now the transition to EVs because their population could have an explosion of environmental pollution related cancer cases in the near future if they continue polluting the same way they have in the last 50 years of their economic revolution.

So althought China has not pass in law to banning ICE - you can bet 100% the direction their govt is steering the country in is to reduce reliance on ICE and move to EV as their people can better afford it. Its already happening in China for the past 5 years and will only grow.

Elon did not move into China because of cheap manufacturing costs for his Teslas, but it is to fulfil the upcoming huge demand in China! And the chinese govt welcome him in with open arms even though he is not allowed to share any tech with the chinese