EV let your hair hang down: Electric cars' reality check

With the global appetite for electric vehicles (EVs) now waning, a timely review of the underlying demand for both these vehicles and the commodities used to make them is now warranted. Up until recently, any mineral critical to EV battery production was ascribed a premium due to its perceived importance. There has been an implied assumption that the world was veering towards non-fossil-fuelled vehicles at breakneck speed. However, the notable consumer shift away from EVs suggests these assumptions are no longer bankable.EV speed bumpWith cracks now surfacing in the global uptake of EVs, the jury’s also out on the capacity of the industry to consume the ever expanding supply of critical minerals being found to feed and support it. This had a material impact on commodity prices. The $64000 question now is whether government-led initiatives to prop up the EV sector - through subsidies, tax credits, and ambitious targets - and the billions car manufacturers have invested in electrifying their fleets have all been in vain. Recent announcements from major automakers, plus recent data and surveys in the U.S., Australia, and Europe, suggest EVs may no longer be the smartest purchase for consumers. It’s not just marke