High Voltage: Electric vehicles sales are hitting light speed
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It took a full five years for electric vehicle sales to reach 1 million in 2015.
Since then, things have gone exponential. In 2021, we are hitting those numbers in weeks and months, not years.
In China about 235,000 plug-ins were sold in June alone – a new record — which translates to 15% market share.
In Europe, Q2 registrations of battery electric vehicles (BEVs) expanded by 231.6%, reaching 210,298 cars.
That doesn’t include plug-in hybrid electric vehicles (PHEVs) (235,730 units) or hybrid electric vehicles (HEVs) (541,162 units).
In June, EY predicted that electric vehicle sales in the US, China and Europe would outstrip all other engine sales by 2033 – five years sooner than expected.
By 2045, non-EV sales will shrink to less than 1% of overall sales.
“A mix of changing consumer attitudes, ambitious climate-focused regulations and technology evolution is about to change the landscape of vehicle buying forever,” EY’s Randall Miller says.
“While the automotive industry has begun to more fully embrace the move toward electrification, the impact of this seismic shift is arriving sooner than many expected.”
It is important to note that whenever these predictions are revised, they only ever go one way – upwards.
Which explains stuff like this:
We have seen upward price pressure throughout 2021.
While that has calmed, demand side pressure is building twice as fast as supply is responding.
— Simon Moores (@sdmoores) July 25, 2021
Great new for the next crop of lithium (and everything else battery metals) miners.
Here’s how a basket of ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths and vanadium are performing>>>
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop:
Nickel is hot right now, thanks to taste maker Elon Musk, and WA based Poseidon is one stock that could benefit.
This $421m market cap nickel-gold play is up 107% in 2021, and 380% over the past 12 months.
It is targeting first nickel production in 2022.
Last week it was also spruiking the “robust” 150,000oz gold and 375,000oz silver ‘Windarra’ tailings project.
A feasibility study ‘base case’ predicts net profits of $30.6 million over a 45-month production period, assuming a conservative gold price of US$1,750/oz.
Peak’s Ngualla rare earth project has been ‘green stamped’ for development by the cabinet of the Tanzanian Government.
That paves the way for financing, offtake and development, with construction at Ngualla targeted to kick off by the end of September 2022.
“This is a landmark moment for Peak and will position Ngualla among the most advanced rare earth development projects that is fully permitted, has a JORC Compliant Ore Reserve, licence to mine, completed Bankable Feasibility Study and a fully piloted process from ore to separated oxides,” managing director Bardin Davis said.
“With Ngualla being one of the highest-grade Neodymium and Praseodymium deposits in the world, Peak is ideally placed to benefit from the growing global focus on electric vehicles and decarbonisation technologies, as well as international initiatives to diversify the supply of rare earths.”
“This is a very exciting time for Peak as we progress Ngualla towards development and construction.”
LEPIDICO (ASX:LPD) +41%
~$80m market cap Lepidico wants to build a lithium mine and concentrator in Namibia, and a chemical conversion plant in Abu Dhabi.
Lepidico’s chemical plant would have a low carbon footprint once developed, new studies show.
The company’s scope 1 and 2 emissions intensity associated with its Abu Dhabi Phase 1 chemical plant is just 7.46t CO2-e2/t lithium hydroxide – which independent consultant GHD advised as being, “low compared with other emission intensities reported or derived from lithium hydroxide production facilities.”
CONICO (ASX:CNJ) +37%
On Monday, the explorer surged 100% after hitting about 55m of “significant sulphide mineralisation” in its very first hole at the ‘Ryberg’ nickel-copper project in Greenland.
Drill core will be processed and assayed as soon as possible, the company says. Results are anticipated to be received in 4-6 weeks.
The second drill-hole is near completion, while rigs have been established on holes #3 and #4.
The ~$70m market cap stock is up 123% year-to-date, and 570% over the past 12 months.