#nev-sales

#nev-sales

Lucid delivered a remarkably small number of vehicles in Q1, at 3,903. It produced 5,500. The company blamed much of this on a supplier's lack of inventory, which cost it 29 days of disruption.

On average, fuel prices are up almost a dollar per gallon, or 25 percent, according to AAA. For a nation as addicted to the automotive as we are, that's bad news. Except, of course, for electric vehicles.

After years of rapid growth, EV sales in China grew a modest 1% in January, mainly due to the expiration of subsidies in December and the introduction of a new purchase tax in the new year. BYD, the country's dominant automaker that spearheaded China's EV boom, was hit the hardest. Its sales dropped 30% year over year to just over 210,000 units due to changing EV policies and rising competition.

Demand for lithium is fueling a modern-day gold rush. The industries that define our modern world, like artifiial intelligence (AI), robotics, EVs, and energy, all depend on lithium, which is used to make batteries and other energy storage systems. Microsoft CEO, Satya Nadella believes that the AI race will be won based on energy costs, not on who has the best models.That's why lithium demand is projected to grow a staggering 5X by 2040.