Is that 21.9kg figure averaged across all elecric vehicles i.e including hybrids or just pure BEVs? That could explain the low average. Otherwise seems low but bear in mind not all BEVs are high end Teslas with large battery packs. However, ~50kg LCE per BEV has always been the benchmark figure I have used and seen. Interestingly, it is likely that the KWh capacity of BEVs may trend upwards over time as costs come down, and most forecasts of lithium demand don't tend to account for that growth, so there could be upside there too. The new wave of commercial and utility vehicles hitting the market now should also raise the average battery pack size, i.e cybertruck/ Rivian etc.
PLS Price at posting:
$3.55 Sentiment: Buy Disclosure: Held
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