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The situation resulted from growing stocks accumulated in the face of declining worldwide demand.
The condition of China's economy, which makes it the largest market for electric cars worldwide, raises concerns that the rate at which these cars are produced will grow more slowly than anticipated, according to experts.
Due to the unfavorable outlook for the industry, battery manufacturers are choosing not to restock during the customary third-quarter period by purchasing large quantities of lithium. Rather, they persist in utilizing the reserves that were amassed amid the Chinese government's substantial subsidies in 2021–2022.
Furthermore, since the European Commission opened an anti-subsidy probe into Chinese imports of electric vehicles, more demand issues have emerged.
source: tradingeconomics.com
The condition of China's economy, which makes it the largest market for electric cars worldwide, raises concerns that the rate at which these cars are produced will grow more slowly than anticipated, according to experts.
Due to the unfavorable outlook for the industry, battery manufacturers are choosing not to restock during the customary third-quarter period by purchasing large quantities of lithium. Rather, they persist in utilizing the reserves that were amassed amid the Chinese government's substantial subsidies in 2021–2022.
Furthermore, since the European Commission opened an anti-subsidy probe into Chinese imports of electric vehicles, more demand issues have emerged.
source: tradingeconomics.com
