Expected rise in EV sales to support Chinese lithium prices in 2021: sources

摘要

Strong electric vehicle sales, along with car-purchasing incentives in certain Chinese cities, are underpinning the recovery in the country’s vehicle market, a report released by China Passenger Car Association, or CPCA, on Jan. 6 showed. The significant increase in EV sales in 2021 is expected to further boost demand for battery metals and support prices, market sources said. China’s vehicle sales were on track to reach 2.8 million units in December, up 1.2% from a month ago and 5.4% from a year earlier, according to the estimates released by China Association of Automobile Manufacturers, or CAAM, on Jan. 6.