Even Chinese lithium producers ( and rare earth producers) are reportedly losing money at current prices so it’s the Chinese battery and OEM’s are the obvious culprits with other exChina OEM’s ( eg Toyota ) and other actors.
BYD just in $1B deal in Turkey for new plant, so huge competition within the Chinese EV market means they need volumes to gain market share and survive-it’s quite cutthroat between them.
That’s burning lithium supply up faster than analysts expected, so includes Li carb stockpiles ( can’t store Li Hydroxide for any time), cathode or cells.
BESS up 62% YoY. 1TWH of projects. This all uses lithium.
WR1 General Discussion, page-31378
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