Neggtions with Shenghe, page-8

Current 2023 sales volume in EU is approx 12 million new light cars (still 3 million less than pre covid) , with 14% being ev , with 48% being combustible and remaining being hybrids or others at 27.8 %.

so 1.68 million evs currently sold - to bring that to 68% another 6.48 million evs will be sold annually by 2030 - that is an average of 5 kg per car of rare earth magnets requires an additional 32,400 tone's of magnets per year to market




America sold 15 million cars in 2023 - with 1.2 million as Evs so similar ballpark as to required magnets to get to 50% by 2030

So another 32,400 tone's will be required above today's requirements.

then china whom is at the forefront of ev production and domestic sales is still growing its market.

then more power will be needed to charge all this, which a portion will be from offshore wind generation yet to be built.

Just a reminder why i invested in a rare earth miner...