China’s Lithium Producers See Profits Collapse up to 80% as EV Demand Craters

[ColonelAngus]

China’s Lithium Producers See Profits Collapse as EV Demand Craters

Chinese lithium giants Ganfeng and Tianqi warn investors their profits are plunging as electric vehicle demand weakens.

www.breitbart.com

“Ganfeng posted a note to the Hong Kong stock market that said net profits declined by up to 80 percent in 2023 because the “cyclical” nature of the lithium industry, and the “growth rate of demand slowing down,” caused a “significant decrease in the price of lithium-salt products.”

Ganfeng shares fell by five percent in trading after the announcement. Rival lithium supplier Tianqi suffered a 6 percent decline after making a similar announcement of profits slipping by up to 73 percent in 2023.”

Government cannot force innovation and adaptation.

It looks like people are not buying the climate change hysteria.

EVs may get to the point they are practical for everyone…they are not at this time.

 

[wamose]

Biden and his party like anything that cramps people's style. EVs do exactly that. That makes Obama right. Biden really "doesn't get anything right". Democrats are going to do all the controversial shit right now so that when they eventually pull the plug on Joe and install Barack's racist wife, they can put all the blame for the open border, lawless streets and inflation on Joe. Yes indeed, they will throw Joe under the bus on the way out. Scapegoat Joe. Back to MAGA

 

[ColonelAngus]

It seems many Democrats and their donors are HEAVILY invested in EVs and related businesses.

CONGRATS ON THE LOSSES. Your EV mandates are a MASSIVE FAILURE.

Manmade Climate change that only Dems can stop by giving them billions of dollars IS A FUCKING HOAX. THEY ARE TELEVANGELISTS.

 

[expat_panama]

...been expecting this & will probably see more to come...

 

[ColonelAngus]

81 millon voted for Biden, why arent they all buying EVS?

THEY MUST BE RACIST!!!

 

[Synthaholic]

It's Breitbart, so you know it's lies and twisting of the actual facts.

The main culprit is not EVs, it's the huge slowdown of solar installations due to high interest rates. EVs are also suffering from those high rates.

Read financial news sometime instead of getting your information from whack job media.

 

[ColonelAngus]

If all the Biden voters buy EVs, we are all saved,.

If you voted Biden, go buy an EV, you frauds.