Hyperdrive
Here's Where Tesla's Supplier Says the Lithium Market Is Heading
- Ganfeng Lithium expects votality to linger into mid-next year
- Exec. Wang Xiaoshen says some new auto projects may be delayed
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While a supply shortage still looms in the lithium market next decade, the industry should brace for further volatility into next year, according to Wang Xiaoshen, vice chairman of Jiangxi Ganfeng Lithium Co., which is forecast to become the second-largest producer from this year.
The supplier to Tesla Inc. and BMW AG fell as much as 28 percent on its debut on the Hong Kong Stock Exchange Thursday amid turbulence in the lithium and boarder markets. Its Shenzhen shares tumbled to their daily limit for a second day. In anticipation of industry expansion, Ganfeng is developing its battery interests and sees challenges ahead for new entrants, Wang said in edited highlights of an interview on Oct. 9.