That's pretty widely available information about oversupply of...

That's pretty widely available information about oversupply of batteries. Last year the incentives for Chinese manufacturers to produce batteries were very attractive to they produced what they could and increased inventory and were prepared to pay a higher price for lithium to do it. There was no shortage of lithium to fulfil real requirements of EV cars getting made. A key point here is that EV battery manufacturers already have the capacity to produce much more than is really required.

That over production has now resulted in reduced lithium pricing falling as well as other factors such as there is no supply shortage of lithium currently or foreseen in the near future. There hasn't been any car manufacturers saying if only we could get more batteries then we could make and sell more cars. The share of EV sales just isn't as high as car companies have setup for. The general market can't be blamed as up to the end of September car sales in Australia were 10.9% higher than last year and likely to hit an all time record whilst worldwide they were up 6.4%. They are now putting off some expansion plans for extra production which can't be good for lithium prices as minders such as PLS need car companies to be very confident about the growth in EV sales over the next 3 years so they invest now.