The raw materials bill for the average EV is now down to $510 compared to a peak of more than $1,900 at the beginning of last year.
Global lithium demand to increase 26% to 1.46m tonnes in 2025, outpacing supply growth.
BMO Capital Markets has lowered its demand estimates for next year on the anticipation that higher tariffs and multilateral trade friction could tamp down industrial output.
The biggest change over three decades is China becoming the number one producer, as its output has more than tripled.
