..for mass adoption, EVs need to get cheaper on parity with ICE vehicles; for EVs to get cheaper, battery and lithium prices can't get too dear. And China will be determined to ensure it gets access to cheap sources of battery minerals, especially in emerging markets where it can invest big to get control (e.g Zimbabwe, Bolivia).
In Bolivia, China Signs Deal For World’s Largest Lithium Reserves
In 2024, 25% of EVs sold in Europe are forecasted to be Chinese, while EV adoption rates are increasing, Western OEMs are struggling to produce a “domestic” product in-line with governments on-shoring wishes Price is often the main driver of consumers buying habits - if the East continues to undercut Western prices, I don’t see a prosperous future for the majority of Western OEMs
