The coronavirus pandemic has paused the electric vehicle revolution, forcing producers of battery metal lithium into survival mode with output ...
JOHANNESBURG/HOUSTON: The coronavirus pandemic has paused the electric vehicle revolution, forcing producers of battery metal lithium into survival mode with output cuts, expansion delays and sales of major assets.
"We don't want to spend a great deal on lithium at the moment," said Vincent Mascolo, chief executive of Ironridge Resources Ltd, which has put its Ghana lithium project up for sale."Investor appetite is not there." Lithium executives, investors and analysts expect the downturn to roil their industry for at least a year. Some warned it could crimp operations through the middle of the decade depending on how COVID-19 affects EV deployment plans from Ford Motor Co, Volkswagen AG and other automakers.
And because China and the EU are the world's biggest EV producers, their regulations are seen as ultimately forcing greater EV adoption in the United States, where fuel prices might usually influence car buying.
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