Australia will play a big role in South Korea's ambition to lead the electric vehicle batteries market and diversify from China for its battery metals needs, a top South Korean executive said on Wednesday. Ben Bosung Kim, the managing director for steel giant POSCO in Australia, said the company has already invested around A$5 billion ($3.4 billion) in the country, which covers traditional raw material such as iron ore and coal, and more recently lithium, nickel, graphite and other minerals needed to manufacture electric car batteries. "Australia and Korea are always complementary and interdependent in terms of Australia's mining and Korea's manufacturing," Ben told Reuters at the sidelines of the Australia-Korea Business Council (AKBC) conference in Sydney.
Lithium carbonate prices have stopped rising for the first time in nearly 18 weeks, with buyers in a growing wait-and-see mood and sellers starting to loosen their offers.
As of today, NIO's battery swap station network has completed its initial coverage of all districts in Shanghai.
Orders with deposits paid by 24:00 on December 31 will continue to receive the same purchase subsidies as in 2022, XPeng said.
BYD hopes to sell 10,000 cars in Mexico in 2023 and 20,000 to 30,000 in 2024.
Morgan Stanley sees the price of lithium carbonate in China falling to $47,500 per ton in the second half of 2023, implying a 35 percent drop from the current spot.
