Of course global recession would adversely impact EV growth. 1....

Of course global recession would adversely impact EV growth.

1. EV exports out of China would be affected
2. China is not immune to global recession, as its export demand would be hit and domestic consumption would fall harder
3. Vehicles are big ticket spending items, when unemployment rises and purchasing power diminishes, consumers have less capacity and less confident to replace their cars
4. China would do better rolling out cheaper smaller vehicles during a recession, BYD soon rolling out is Seagull model which is the cheaper smaller version that uses sodium-ion battery (as opposed to lithium ferrous phosphate (LFP)
5. China would press its suppliers for lower priced raw materials, during recession the buyer has the power, not the supplier
6. During recession, we would expect oil to get cheaper making conversion rate from ICE to EV slower, once again compelling the industry to roll out cheaper versions of EVs
7. Govts would be under greater pressure to roll back EV subsidies especially when climate agenda takes a back seat with installation of more right wing Govts.
8. Recessionary pressures would fast forward EV makers to source from cheaper sources in emerging markets like Africa, BYD also has a stake in lithium producer in South America (Argentina I believe).