Yes plenty of the lower tier EV companies in China are falling by the wayside but Chinese EV sales are still rising with the bigger companies taking up the slack and their average battery size is increasing as well so your statement is incorrect. There has been an oversupply of Lithium combined with the CCP playing with the market has caused the slump in Lithium prices however it seems to have recently turned the corner and is on the way back up.
What's behind the drastic downturn in nickel and lithium prices, page-117
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