Despite concerns about a global slowdown in electric vehicle (EV) sales, Frik Els, news editor with battery metals consultancy Adamas Intelligence, says battery metals demand remain strong.
China continues to dominate the EV market, with Els noting that every second EV sold globally in the past year was in the country.
“They produce more than they sell inside the country. So, if you want to look at trends, you must start in China,” Els told The Northern Miner’s western editor, Henry Lazenby, last month during the Energy Transition Metals Summit in Washington, D.C.
Els, who’s also editor-at-large with The Northern Miner’s sister publication Mining.com, pointed out that battery chemistry is quickly evolving. Following a shift toward lithium iron phosphate (LFP) batteries that began in China in 2020, over half of the EVs now sold there are LFP. The chemistry, which is cheaper than others, is also lower density. Still, U.S. market leader Tesla has adopted LFP batteries for their base models.
In the video below, Els explains why prospects for all battery metals are still strong, even as preferences for battery types continue to shift. The Energy Transition Metals Summit was organized by The Northern Miner and Precious Metals Summit Conferences.
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