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Eye on Lithium: Cheaper Chinese electric vehicles coming to Australia in 2023
New Chinese EV models are set to hit the market EV car sales will make up more than 35%of new car sales … Read More
The post Eye on Lithium: Cheaper…
- New Chinese EV models are set to hit the market
- EV car sales will make up more than 35%of new car sales in Australia by 2030, Boston Consulting Group says
- Piedmont Lithium and Tesla amend offtake agreement to spot market pricing
All your ASX lithium news for Wednesday, January 4.
High prices and lack of options have meant Australians have been sluggish in our uptake of EVs, with only a handful of cars are currently priced under $50,000.
It now looks like more than a dozen new EV models — some below the $50,000 mark — are coming into Australia in 2023, including EVs from China’s largest carmaker and a major battery manufacturer BYD and British manufacturer MG (backed by Chinese state-owned car company SAIC Motor).
This would be some healthy competition to the Tesla-dominant Aussie market, with the Model 3 (around $65,000) and Model Y (around $75,000) currently accounting for half of the EV purchases.
“We have committed to at least two models coming on to the Australian market every year,” EVDirect (BYD’s exclusive distributor for electric passenger vehicles in Australia) CEO Luke Todd said.
“We do anticipate prices [will] become a little bit more competitive in the coming years as there’s more and more [electric] vehicles on the road.”
EVDirect is bringing a light SUV (BYD Dolphin) and a sedan (BYD Seal) onto the market in early 2023 – and the Dolphin is expected to be cheaper than the currently available model, BYD Atto 3, which is priced around $49,000.
Meanwhile, MG’s current model ZS EV costs around $45,000, probably the lowest-priced model on the market and the company is launching a new model, MG4, in early 2023.
There’s also rumours that Chinese auto giant Great Wall Motors could launch the Ora EV brand in Australia as part of its wider plans to launch more than 50 energy efficient vehicles by 2025.
Chery plans to release a plug-in hybrid by 2023, and potential the Omoda 5 compact SUV next year and Geely is reportedly hunting for a distribution partner in Australia and has the intention of setting up shop here in 2023-24.
Then there’s LDV, who’s Australia GM Dinesh Chippappa says demand for the electric ute model eT60 has already outstripped supply – despite its $92,990 starting price.
Forecasts from independent consulting firm Boston Consulting Group (BCG) suggest EV sales will increase by 30 per cent in 2023, a jump from about 100,000 this year to 150,000 next year.
It also expects that EV car sales will make up more than 35%of new car sales in Australia by 2030.
Here’s how ASX lithium stocks were tracking today:
| Code | Company | Price | % Today | Market Cap |
|---|---|---|---|---|
| 1MC | Morella Corporation | 0.0135 | 13% | $73,182,965 |
| LRS | Latin Resources Ltd | 0.1075 | 11% | $202,267,508 |
| RLC | Reedy Lagoon Corp. | 0.011 | 10% | $5,667,196 |
| XTC | Xantippe Res Ltd | 0.0055 | 10% | $51,460,174 |
| SYA | Sayona Mining Ltd | 0.2075 | 9% | $1,650,290,982 |
| EMC | Everest Metals Corp | 0.09 | 8% | $8,833,948 |
| RAG | Ragnar Metals Ltd | 0.013 | 8% | $4,550,219 |
| BNR | Bulletin Res Ltd | 0.1 | 8% | $27,210,972 |
| RGL | Riversgold | 0.03 | 7% | $26,473,096 |
| SRI | Sipa Resources Ltd | 0.032 | 7% | $6,809,577 |
| EPM | Eclipse Metals | 0.017 | 6% | $32,388,110 |
| ARN | Aldoro Resources | 0.175 | 6% | $18,630,532 |
| LLI | Loyal Lithium Ltd | 0.285 | 6% | $14,172,300 |
| TMB | Tambourahmetals | 0.105 | 5% | $4,119,260 |
| CRR | Critical Resources | 0.042 | 5% | $63,613,305 |
| MXR | Maximus Resources | 0.042 | 5% | $12,762,231 |
| QXR | Qx Resources Limited | 0.043 | 5% | $36,771,355 |
| VSR | Voltaic Strategic | 0.022 | 5% | $6,435,044 |
| RAS | Ragusa Minerals Ltd | 0.115 | 5% | $15,592,151 |
| MLS | Metals Australia | 0.047 | 4% | $27,316,629 |
| TEM | Tempest Minerals | 0.024 | 4% | $11,609,622 |
| ALY | Alchemy Resource Ltd | 0.024 | 4% | $27,095,754 |
| GSM | Golden State Mining | 0.05 | 4% | $5,616,682 |
| FRS | Forrestaniaresources | 0.13 | 4% | $7,611,413 |
| KGD | Kula Gold Limited | 0.026 | 4% | $9,030,298 |
| INR | Ioneer Ltd | 0.3825 | 3% | $776,385,159 |
| LEL | Lithenergy | 0.765 | 3% | $44,511,000 |
| VUL | Vulcan Energy | 6.48 | 3% | $899,339,337 |
| RDT | Red Dirt Metals Ltd | 0.465 | 3% | $187,477,120 |
| BMM | Balkanminingandmin | 0.32 | 3% | $13,879,324 |
| LRV | Larvottoresources | 0.16 | 3% | $10,424,482 |
| AZL | Arizona Lithium Ltd | 0.064 | 3% | $151,435,288 |
| LRD | Lordresourceslimited | 0.18 | 3% | $5,824,809 |
| MIN | Mineral Resources. | 77.19 | 3% | $14,254,398,333 |
| EUR | European Lithium Ltd | 0.076 | 3% | $107,243,699 |
| MNS | Magnis Energy Tech | 0.39 | 3% | $368,725,964 |
| KZR | Kalamazoo Resources | 0.235 | 2% | $34,228,456 |
| LTR | Liontown Resources | 1.25 | 2% | $2,690,633,304 |
| WES | Wesfarmers Limited | 46.33 | 2% | $51,551,295,822 |
| IGO | IGO Limited | 13.44 | 2% | $9,988,362,453 |
| GT1 | Greentechnology | 0.815 | 2% | $152,590,714 |
| GW1 | Greenwing Resources | 0.28 | 2% | $34,716,188 |
| PLS | Pilbara Min Ltd | 3.68 | 2% | $10,852,649,554 |
| ESS | Essential Metals Ltd | 0.325 | 2% | $85,461,342 |
| NMT | Neometals Ltd | 0.8125 | 2% | $442,192,941 |
| SCN | Scorpion Minerals | 0.071 | 1% | $24,199,433 |
| RIO | Rio Tinto Limited | 117.06 | 1% | $42,849,487,582 |
| AKE | Allkem Limited | 11.18 | 1% | $7,039,745,269 |
| AZI | Altamin Limited | 0.08 | 1% | $30,945,623 |
| PAM | Pan Asia Metals | 0.405 | 1% | $58,742,236 |
| CXO | Core Lithium | 1.0225 | 1% | $1,860,262,967 |
| PLL | Piedmont Lithium Inc | 0.6625 | 1% | $273,025,222 |
| GLN | Galan Lithium Ltd | 1.04 | 1% | $314,670,567 |
| AGY | Argosy Minerals Ltd | 0.5625 | 0% | $786,468,199 |
| ADV | Ardiden Ltd | 0.008 | 0% | $21,506,683 |
| AML | Aeon Metals Ltd. | 0.027 | 0% | $29,602,817 |
| ASN | Anson Resources Ltd | 0.18 | 0% | $212,085,886 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| INF | Infinity Lithium | 0.115 | 0% | $53,198,091 |
| JRL | Jindalee Resources | 1.87 | 0% | $107,298,666 |
| LIT | Lithium Australia | 0.046 | 0% | $56,174,817 |
| LPI | Lithium Pwr Int Ltd | 0.41 | 0% | $257,930,000 |
| PSC | Prospect Res Ltd | 0.115 | 0% | $53,159,838 |
| TKL | Traka Resources | 0.008 | 0% | $5,510,196 |
| CHR | Charger Metals | 0.45 | 0% | $19,671,466 |
| AX8 | Accelerate Resources | 0.025 | 0% | $9,440,044 |
| AM7 | Arcadia Minerals | 0.19 | 0% | $8,872,599 |
| DTM | Dart Mining NL | 0.055 | 0% | $8,539,309 |
| EMS | Eastern Metals | 0.075 | 0% | $2,929,831 |
| MMC | Mitremining | 0.28 | 0% | $7,583,828 |
| CTN | Catalina Resources | 0.009 | 0% | $11,146,382 |
| WCN | White Cliff Min Ltd | 0.013 | 0% | $9,792,707 |
| WML | Woomera Mining Ltd | 0.019 | 0% | $18,167,063 |
| ENT | Enterprise Metals | 0.009 | 0% | $6,345,726 |
| KAI | Kairos Minerals Ltd | 0.022 | 0% | $43,210,057 |
| AVW | Avira Resources Ltd | 0.002 | 0% | $4,267,580 |
| RMX | Red Mount Min Ltd | 0.005 | 0% | $9,941,744 |
| CAI | Calidus Resources | 0.28 | 0% | $122,620,877 |
| MRR | Minrex Resources Ltd | 0.032 | 0% | $34,715,760 |
| A8G | Australasian Metals | 0.19 | 0% | $7,822,394 |
| EFE | Eastern Resources | 0.028 | 0% | $32,361,044 |
| MQR | Marquee Resource Ltd | 0.033 | 0% | $10,797,848 |
| SRZ | Stellar Resources | 0.014 | 0% | $14,064,833 |
| LSR | Lodestar Minerals | 0.0045 | 0% | $7,822,968 |
| NWM | Norwest Minerals | 0.051 | 0% | $11,327,477 |
| AOA | Ausmon Resorces | 0.007 | 0% | $6,001,025 |
| VKA | Viking Mines Ltd | 0.009 | 0% | $9,227,326 |
| IPT | Impact Minerals | 0.007 | 0% | $17,369,594 |
| VMC | Venus Metals Cor Ltd | 0.135 | 0% | $24,040,622 |
| ZNC | Zenith Minerals Ltd | 0.255 | 0% | $89,585,217 |
| G88 | Golden Mile Res Ltd | 0.021 | 0% | $4,296,385 |
| EVR | Ev Resources Ltd | 0.014 | 0% | $13,005,777 |
| WC8 | Wildcat Resources | 0.024 | 0% | $15,888,545 |
| THR | Thor Mining PLC | 0.006 | 0% | $8,731,877 |
| CZL | Cons Zinc Ltd | 0.017 | 0% | $7,869,665 |
| DRE | Dreadnought Resources Ltd | 0.098 | 0% | $301,795,399 |
| MM1 | Midasmineralsltd | 0.2 | 0% | $11,426,353 |
| M2R | Miramar | 0.08 | 0% | $5,654,539 |
| AOU | Auroch Minerals Ltd | 0.052 | 0% | $22,247,947 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| ZEO | Zeotech Limited | 0.047 | 0% | $77,113,166 |
| KTA | Krakatoa Resources | 0.041 | 0% | $14,133,107 |
| DAF | Discovery Alaska Ltd | 0.032 | 0% | $7,175,510 |
| FTL | Firetail Resources | 0.16 | 0% | $10,400,000 |
| IR1 | Irismetals | 1.16 | 0% | $72,766,800 |
| LNR | Lanthanein Resources | 0.021 | 0% | $20,613,087 |
| DAL | Dalaroometalsltd | 0.1 | 0% | $2,987,500 |
| TKM | Trek Metals Ltd | 0.075 | 0% | $27,295,881 |
| OCN | Oceanalithiumlimited | 0.38 | 0% | $13,837,320 |
| CMD | Cassius Mining Ltd | 0.02 | 0% | $8,169,858 |
| SGQ | St George Min Ltd | 0.068 | 0% | $55,177,534 |
| LLO | Lion One Metals Ltd | 1.135 | 0% | $13,051,451 |
| GL1 | Globallith | 1.745 | -1% | $374,119,064 |
| EMH | European Metals Hldg | 0.615 | -1% | $74,085,974 |
| PNN | Power Minerals Ltd | 0.525 | -1% | $38,289,756 |
| LLL | Leolithiumlimited | 0.485 | -1% | $483,461,887 |
| MTM | Mtmongerresources | 0.075 | -1% | $4,333,841 |
| CY5 | Cygnus Gold Limited | 0.375 | -1% | $69,872,201 |
| LKE | Lake Resources | 0.745 | -1% | $1,050,711,262 |
| A11 | Atlantic Lithium | 0.665 | -1% | $408,875,621 |
| FG1 | Flynngold | 0.0985 | -2% | $7,832,354 |
| AUN | Aurumin | 0.062 | -2% | $11,199,062 |
| WR1 | Winsome Resources | 1.385 | -2% | $196,260,750 |
| IMI | Infinitymining | 0.245 | -2% | $19,119,580 |
| QPM | Queensland Pacific | 0.1075 | -2% | $192,098,271 |
| STM | Sunstone Metals Ltd | 0.038 | -3% | $102,197,410 |
| TON | Triton Min Ltd | 0.037 | -3% | $52,545,799 |
| PGD | Peregrine Gold | 0.35 | -3% | $13,950,680 |
| NVA | Nova Minerals Ltd | 0.67 | -4% | $145,987,621 |
| AAJ | Aruma Resources Ltd | 0.051 | -4% | $8,318,960 |
| BYH | Bryah Resources Ltd | 0.0245 | -6% | $7,312,590 |
| LIS | Lisenergylimited | 0.315 | -6% | $55,581,253 |
| LPD | Lepidico Ltd | 0.014 | -7% | $114,566,568 |
| TUL | Tulla Resources | 0.32 | -7% | $73,432,716 |
| AS2 | Askarimetalslimited | 0.44 | -7% | $23,436,083 |
| TYX | Tyranna Res Ltd | 0.022 | -8% | $57,730,208 |
A solid 54 stocks were in the green, 59 were flat and 24 were red.
Who has news out today?
Piedmont and Tesla have mutually agreed to amend their previous offtake agreement with PPL to deliver around 125,000 metric tons of SC6 to Tesla beginning in H2 2023 through the end of 2025.
Previously this was a fixed price agreement but now the SC6 pricing will be determined by market prices at the time of each shipment.
“This agreement helps to ensure that these critical resources from Quebec remain in North America and support the mission of the Inflation Reduction Act to bolster the U.S. supply chain, the clean energy economy, and global decarbonization,” Piedmont president and CEO Keith Phillips said.
Spodumene concentrate production is expected to restart at North American Lithium (NAL) in H1 2023, with first commercial shipments expected to begin in Q3 2023.
PLL share price today:
The post Eye on Lithium: Cheaper Chinese electric vehicles coming to Australia in 2023 appeared first on Stockhead.
