Agree MS, but
1. EV growth towards mass adoption would be slower than previously expected
2. Unanticipated hurdles would still define the challenging landscape for EV/lithium over possibly the next 1-2 years, subject to soft/hard landing scenarios
3. EV growth may not be synonymous with lithium pricing growth, in fact given the price competition and need to progress beyond early adopters, EV pricing reduction is here to stay, mandating a reasonable lithium price range (suggesting lithium price premium days are over) to support lower EV prices
4. If you have been following my Front-running argument, EV/Lithium stocks have front-run their potential early on and now experiencing mean reversion; just like Cisco shares continued to fall after early exuberance despite internet moving into mass adoption, EV and lithium would continue to prosper but share price premium valuations aren't likely to be revisited, because first mover advantages would be diluted as time progresses.
I didn't think many understood what I have been writing about.
I fully concur EVs and Lithium are here to stay, will prosper and gain from strength to strength, albeit at a slower pace amidst increasing challenges from technological change, demand growth stalling, geopolitics, price competition etc.
But this does not mean lithium pricing would return to 2020-21 days (unlikely) and prior lofty expectations on the lithium space which had underpinned prior stock valuations have come down to earth. And Expectations define stock valuations.
