" and Toyota (7203.T) have more than 90 days' worth of unsold EVs at their stores at current sales rates, "
Hi Pete2019 - can you please post this information above about what you claim with reference to Toyota.
The only thing I can find relating to Toyota and EV's is this: " In May, Toyota stated that it would manufacture its first EV assembled in the United States at its Kentucky plant in 2025. This EV would be among Toyota’s ten EVs scheduled to launch globally by 2026."
I don't quite understand your claim that Toyota have more than 90 days worth of unsold EVs when they have yet to manufacture one????
https://finance.yahoo.com/news/toyota-tm-signs-supply-agreement-165700627.html
and - " China phasing out most of EV subsidies that drove the crazy lithium demand to the end of 2022. "
Quoting from China Dialogue -
" Despite the end of subsidies, most experts believe the EV market will keep growing. Car companies have devoted major R&D resources to EVs, and consumer interest has grown a lot, Gongmin Guan, head of automotive industry research at UBS ChinaCar, told Caixin. EVs are gradually transitioning from policy-driven to market-driven, Nishita Aggarwal, industry analyst at the Economist Intelligence Unit (EIU), told the BBC."
And also of interest -
"An even stronger policy would be to ban the sale of combustion vehicles. This is a controversial matter in China but local governments could lead the way. In August 2022, the government of Hainan province proposed a complete ban on the sale of combustion cars by 2030 in its implementation plan for peaking carbon emissions. Some experts suggest Beijing city should do the same. "
https://chinadialogue.net/en/digest/china-ends-electric-vehicle-subsidies/
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