The latest news by TELF AG analyzes the electric vehicle market in China, reporting the news that over the last few months, the sales of these vehicles of the future have suffered a sharp contraction.
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Lugano, Switzerland, October 20, 2023 - The latest news by TELF AG, published under the title “TELF AG analyzes the electric vehicle market and its connection to raw materials”, analyzes the electric vehicle market in China, reporting the news that over the last few months, the sales of these vehicles of the future have suffered a sharp contraction. The publication, specifically, focuses on the fact that the significant decline in Chinese demand for electric vehicles has coincided with a parallel downward pressure on the prices of some absolutely strategic raw materials for their production, such as lithium, nickel, and cobalt.
At first, it offers a brief overview of the global electric vehicle market, highlighting the fact that these innovative vehicles, powered entirely by electricity, will play a decisive role in reducing global carbon emissions and accompanying the world towards a sustainable transition on a human scale, without any kind of trauma. These vehicles, as stated in the text, will also have a leading role in promoting the progressive replacement of fossil fuels with renewable and clean energies, thus contributing in a clear and evident way to the protection of natural ecosystems.
Also, for these reasons, as stated in the publication, the drops recorded in the sales of these vehicles have caused a lot of astonishment among analysts and observers, even if some of them subsequently tried to find explanations for the decrease in demand. The decrease appears even more surprising if you compare it with that recorded in the first months of last year when sales of these vehicles practically doubled. This year, however, as stated, growth did not go beyond 25%.
The most surprising drops, however, were those involving some of the raw materials considered fundamental for the ecological transition, such as lithium, nickel, and cobalt. The price of lithium, as stated in the text, would have dropped by as much as 70% in the space of a few years, while those of nickel would have dropped by 40%. Lithium, in a very short time, has therefore gone from 80,000 dollars per pound to the current 23,000. As regards cobalt, as stated in the text, many analysts believe it is probable that the drop in prices is also due to excess supply.
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