EU EV sales in Q1 up 90% y-o-y, lithium supply growth up 15% thus far, this year.
https://www.reuters.com/business/autos-transportation/battery-powered-electric-vehicles-nearly-double-eu-market-share-q1-acea-2022-05-05/
VW said yesterday that consumer demand for EV's is growing rapidly and that they are sold out through 2023 for EU and US markets, with a current waiting list of 300k units. Why such a long waiting list, I'll give you 1 guess.
Watch out for China EV exports to the world, capturing market share, while the western OEM's ask, where's my lithium, and China replies, you're late to the party sunshine, suck it up.
I know is painful to read this again, but the Osborne Effect will induce lingering and acute symptoms of flinching freckle syndrome for OEM's over the next few years, ICEV's sales are already cratering, and we are only at the start of the transition. The OEM's have brough their models to market, consumers want them, but they cant deliver. Some of the OEM's have been around for over a century dealing with their suppliers, so how have they managed to create this monu"mental" FU, does my head in.
Sad part, this cannot be fixed short to medium term, the likelihood of near and medium term casualties growing by the day.
Rant over, make sure your wearing your best hard hat today folks....
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