In its recent publication titled “TELF AG Analyses the Electric Vehicle Market and Its Connection to Raw Materials,” TELF AG delves into the electric vehicle (EV) market in China, highlighting a significant contraction in sales of these futuristic vehicles over the past few months. The publication particularly emphasises the simultaneous decline in Chinese demand for electric vehicles and the downward pressure on prices of vital raw materials crucial for EV production, such as lithium, nickel, and cobalt.
The publication begins with a brief overview of the global electric vehicle market, underscoring the pivotal role these innovative, fully electric vehicles play in mitigating global carbon emissions. It emphasizes their contribution to ushering the world toward a sustainable transition without causing disruptive upheaval. Electric vehicles are poised to accelerate the shift from fossil fuels to renewable and clean energy sources, thereby actively safeguarding natural ecosystems, as articulated in the text.
The unexpected decline in electric vehicle sales, as reported in the publication, has raised eyebrows among analysts and observers, especially when compared to the substantial sales growth witnessed in the same period the previous year, nearly doubling. However, this year’s growth has been limited to a mere 25%, as indicated in the publication.
Perhaps even more astonishing are the declines in the prices of raw materials deemed essential for the ecological transition, including lithium, nickel, and cobalt. The publication notes that the price of lithium has plummeted by as much as 70% in just a few years, while nickel prices have seen a 40% drop. Lithium, once valued at $80,000 per pound, has now dipped to $23,000. Cobalt, according to the text, may also be experiencing price drops due to oversupply, as suggested by many analysts.
TELF AG’s latest insights shed light on the intricate relationship between electric vehicle market dynamics and the availability and pricing of critical raw materials, raising questions and considerations about the future of the EV industry and the global transition to cleaner transportation.