Companies along China's electric vehicle (EV) supply chain, from miners to battery-makers and car companies, have been riding high on an EV buying spree. And the price of lithium, a key raw material in most electric car batteries, has soared in tandem, drawing billions in capital from a diverse group of investors. But the wave of demand downstream is breaking, leading analysts and industry insiders to predict a supply glut and plunging prices of the metal this year.
Caixin
Lithium price tops out as China EV sales slow
Analysts forecast raw material and battery supply gluts
Employees grab carbonate lithium processed at an Argentine plant in 2021. Prices for the mineral are falling after dozens of Chinese companies scrambled to get a piece of the booming market in 2022. © Reuters
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