The price of Lithium is just one factor in the cost of an electric car. The biggest limiting factor for electric cars is scale. Right now, the TCO for BEV v ICE over the life of the vehicle is about parity without subsidies- At less than 5% of the market!!!!!. Add subsidies(and other incentives) and its a no brainer. Once business and fleet buyers shift scale will happen quickly within the BEV industry. The incumbents are slow walking but the capital value of Tesla will be giving them nightmares. They can't hold out.
We are not seeing it in Australia because there are no subsidies and very poor charging infrastructure so it appears as if there is no market. Just look at what is happening in Europe China and the US(even under Trump!). What happens in Australia is irrelevant.
We need about 15 Twh's per annum of battery production to shift everything to BEV. So we need about 10x increase in planned and existing capacity. Tesla's battery day will pave the way to get there. The biggest limiting factor if Elon is to be believed is Nickel!!
Good News & Bad News, page-6503
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