Not exactly. Short term rising oil is a benefit to EV sentiment as we’ve seen over recent months.
However medium term (1-3 years), there is the elephant in the room. That is that rising oil prices leads to a slowing of global economies and therefore EV affordability is hit as economies go into recession. Paying $70k for an EV to save $5k a year in fuel becomes a more important financial decision during a recession. I think then EVs become viewed as a luxury behind home loan payments and living expenses.
Longer term (3 years +) after the cycle moves toward expansionary monetary policy, EVs will be at the top of all shopping lists. Those who hold PLS through to this time will be very richly rewarded in both nominal and real terms as today’s dollars are debased and the demand for Lithium will spike once again.
ALL IMO
Good News & Bad News, page-16021
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Last
$3.07 |
Change
0.090(3.02%) |
Mkt cap ! $9.197B | |||
| Open | High | Low | Value | Volume |
| $3.05 | $3.09 | $3.02 | $74.82M | 24.46M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 750 | $3.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.07 | 10000 | 1 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| PLS (ASX) Chart |