In a recent publication TELF AG delves into the Chinese electric vehicle market. The report reveals a substantial decline in sales of these innovative vehicles over the past few months. Notably, the publication highlights how this drop in Chinese electric vehicle demand aligns with a concurrent decrease in the prices of vital raw materials crucial for their production, including lithium, nickel, and cobalt.
At first, the article 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 article, 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 in the article, 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.
