These and other standards will require meaningful innovation as OEMs and suppliers are challenged to find ways to improve engine management, electrical power consumption, vehicle weight and integration of electric vehicles and alternative technologies.Source

approved new rules, which require that all new passenger cars and light trucks sold in California be electric vehicles or other emissions-free models by 2035.Source

At the same time, suppliers are also developing and marketing new and alternative technologies that support electric vehicles, hybrid vehicles and fuel cell products to improve fuel economy and emissions.Source

Board approved rules in 2022, which require that all new passenger cars and light trucks sold in California be electric vehicles or other emissions-free models by 2035.Source

In November 2021, Congress passed and the President signed the Infrastructure Investment and Jobs Act (“IIJA”), also known as the Bipartisan Infrastructure Law.Source

According to a 2022 report by Reuters, $1.2 trillion is expected to be spent on EV investment through 2030 by global automobile OEMs.Source

According to forecasts from the United States Department of Transportation and Bloomberg New Energy Finance (“BNEF”), it is expected that approximately nine million EVs will be on roads in the U.S. by 2025, over 37 million EVs by 2030 and over 139 million EVs by 2040, which would represent approximately 59% of all motor vehicles in the U.S.Source

Market growth is driven by tailwinds such as increased EV model availability and performance, lower upfront prices for EVs, lower total cost of ownership (“TCO”) as compared to internal combustion engine (“ICE”) vehicles, increased range and availability of chargers and federal, state and local incentives and regulations.Source

We also believe that as the easiest (low hanging fruit) locations for grid-tied chargers are used up, the process of deploying traditionally installed and powered grid-tied EV chargers will become more expensive and time consuming.Source

We believe that the consumer will adopt EVs faster than many experts are predicting and that as a result, the requirement for growth in EV charging infrastructure will be more urgent than is currently forecasted or contemplated.Source

We believe that consumers will adopt EVs faster than many experts are predicting and that as a result, the requirement for growth in EV charging infrastructure will be more urgent than is currently forecasted or contemplated.Source

The electric vehicle market is expected to grow at a rapid pace, and it is expected that the EV infrastructure market will grow at a comparable pace to support the EVs.Source

Many national and regional regulatory bodies have adopted legislation to incentivize or require a shift to lower-emission and zero-emission vehicles.Source

We believe that evolving consumer preferences coupled with growing government incentives and regulations are driving a once-in-a-century shift to EVs.Source

We believe that a battery technology that can meet these requirements will enable an EV solution that is much more broadly competitive with ICE.Source

Current Battery Technology Will Not Meet the Requirements for Broad Adoption of EVsSource

The future of this industry is not based on government incentives, but on competitiveness, performance and obviously, on the positive impacts on the environment.Source

Later in this call, we will discuss in more detail our lithium market views and electric vehicles market dynamics.Source

If we look at 10 years from now, I think that maybe for 2023, it's reasonable to think that more than 50% of new car sales worldwide should be EVs.Source

As demand grows, charging stations should follow quickly. It's not a very complex technology. It's fast charging, it’s really simple.Source

The demand for electric vehicles has been further propelled by government incentives and regulations at federal, state, and local levels.Source

2024 is expected to be a year of increasing numbers of EV models available and improved infrastructure to support them.Source

Government agencies around the world are expected to continue providing incentives for the purchase of EVs, and regulations may be introduced to reduce emissions and encourage the use of clean energy vehicles.Source

The market for plug-in electric vehicles experienced significant growth in recent years with EV adoption hitting an all-time high with 6% in 2022 in U.S. and growing 11% year over year.Source