LME WEEK 2020: Robust year ahead for EV sector, panelists say

Despite the negative impact of the Covid-19 pandemic on the global economy, a combination of factors will drive strong adoption of electric vehicles (EVs) in 2021, panelists at the London Metal Exchange’s Focus Day webinar on EVs said on Thursday October 22.

New models to boost sales With the number of EV models available in the market increasing rapidly, panelists said they expect to see increased adoption of such vehicles worldwide. “What we are seeing in China and in Europe particularly during the last quarter of the year is certainly a level of sales that exceeded my expectations,” Ron Mitchell, sales director at Tianqi Lithium said. “You have a lot of new [EV] models that were introduced in the second half of the year, that are seeing some decent sales like the BMW i3 or Volkswagen ID.3,” Ernie Ortiz, president and managing director at Lithium Royalty Corp, said. “As those continue to ramp and get to a steadier level that will continue to show through in sales in 2021 and it will lead to a pretty robust year.” Jessica Fung, vice president at investment firm...


Cristina Belda

October 23, 2020

07:58 GMT