, Columnist
China’s EV Market Shows the Future Is Already Here
By midyear, half of all cars sold in the country will come with a plug. BYD is leading the charge.
Offshore brands have been left behind.
Photographer: Brendon Thorne/BloombergForget everything you’ve heard about how electric vehicles are running out of charge. In the biggest car market, they’re on the brink of victory — and the rest of the world will soon follow.
Battery metals such as lithium, nickel and cobalt are down by, respectively, 80%, 30%, and 25% over the past year. The cells made out of them are heading the same direction, with Goldman Sachs Group Inc. predicting a 40% drop in pack prices between 2023 and 2025, putting the global average well below $100 per kilowatt hour.