The cost of electric cars could start to fall, with the price of a core component in EV batteries expected to reduce, according to Credit Suisse analysts.
The cost of electric cars could start to fall as the price of a core component in EV batteries is expected to reduce, according to market analysts Credit Suisse.
Credit Suisse is among several firms that have just revised down their price forecasts for lithium as more supply hits the market, and as demand for batteries doesn't take off as quickly as predicted as key markets like China grapple with a looming economic downturn. We are already the world's biggest exporter of lithium and production is expected to triple within four years, according to federal government forecasts from March.The ASX-listed company made the call to go ahead with the mine near Darwin at the end of last year, when lithium prices were starting to really take off.
However, Mr Iacopetta told ABC News that the mining project's feasibility was based on a long-term forecast of prices coming down to as low as $1,000 for the spodumene concentrate lithium ore that it sells to market. Core Lithium has locked in two buyers in China. It is also one of several mines across Australia that"I think the shift to decarbonisation is gaining momentum and will continue to do so."Credit Suisse's Saul Kavonic said no miner could count on an ongoing boom, and that those still striking ground should be assessing their future viability.