EV sales growth weak but signs of life in consumer
Global EV sales continued to be impacted by the slowdown in demand in China caused by the modification of the subsidy regime. Sales rose only 12.5% y/y in May, their slowest rate of growth since our records begin in 2014. We're also seeing a slowdown in Europe and only the US is brushing off the trend. It's not all doom and gloom though as Chinese mobile phone production rose y/y in the past two months. We regard this as a key indicator of consumer battery demand.
Topics
Batteries
China
Europe
EV
Mobile Phone
US
