China’s EV market – big enough to define lithium and precursor lithium demand globally – has underperformed expectations for the better part of the last year, largely coinciding with the massive reduction in lithium prices from the end of 2022 throughout 2023. Winds are changing however as China’s EV price war rages on – led by BYD and its mammoth market share – effectively forcing smaller players to meet the prices it sets throughout its vehicle lineup. This has led to a resounding change in consumer purchasing sentiment as EV prices continue to fall and become increasingly accessible to the average Chinese person. New Energy Vehicle (NEV) sales are expected to see 50% market penetration in China this year, broadly…