Episode 203: NEVs & BESS (Tu Le & Henrique Ribeiro)

The first episode of 2025 is a double episode covering the two most significant demand drivers of lithium: electric transportation and battery energy storage systems. My guests are two experts in their respective fields: Tu Le from Sino Auto Insights and Henrique Ribeiro from S&P Global. Topics: State of the NEV market The rise of PHEVs Autonomous vehicles Zeekr (Geely) & Waymo Top Chinese NEV companies Tariffs Tesla Thinning the herd Legacy OEMs: who survives? FSD Battery energy storage systems (BESS) BESS impact on lithium demand The economics of BESS Sodium ion: not ready for prime time How real is battery "second life"? BESS in 2030

Daniel Jimenez and I discuss the following topics based on listener questions: 2024 Surprises Lithium demand Trends in EV adoption PHEVs BESS growth The incentive price The cost curve Inventory Rio - Arcadium Africa's potential Price VW - Patriot Canada Argentina Ex China conversion LFP The "Trump" impact Rapid fire

This episode takes a deep dive into the Lithium Americas Thacker Pass project . My guests are LAC GM Hugh Broadhurst and R&D Manager Ryan Ravenelle.Topics:What makes Thacker Pass special?Working with a major mining partnerThe significance of the Reno Tech CenterBenefits of being in a “mining” stateProduct specificationsThe TeamInfrastructureLogisticsThe “Goldilocks” sulfuric acid plantSustainabilityCommunity supportThe project timelineChallengesThe cost curveRapid fire

Dale Henderson (@henderson_dale on X) is the Managing Director & CEO of Pilbara Minerals. I was honored to have him join me for the 200th episode. Topics: Pilbara’s four strategic pillars The wild ride for lithium (& Pilbara) Swing supply created by 2022 pricing The steepening cost curve Unsustainable pricing in 2024 The coming shortage Continuing to be nimble Managing through volatility The POSCO JV & other world class partners Where Pilbara sits on the cost curve Growth and the Latin Resources acquisition The arrival of big balance sheets to lithium Brazil as a lithium jurisdiction Keeping the team motivated Two questions from Dale Rapid fire

Dan Blondal aka "the man with one tweet" is the CEO of Nano One (TSX: NANO / OTC: NNOMF). Topics: A world class suite of partners The battery challenge Why ex China cathode capacity matters China's current LFP dominance Why the west has to do LFP differently The importance of ESS as a catalyst "Design one - build many" Will Japan make a battery comeback? The importance of the DOD investment Staying the course Rapid fire

The majority of this episode is a presentation I made at the Panorama Minero "Lithium South America" event in Jujuy, Argentina on October 9, 2024. The presentation starts at ~ minute 23. The episode begins with a interview with Alejandro Columbo from Panorama Minero. We discuss what Panorama Minero does and how this event has grown over the last decade to global significance. My presentation "Lithium's Bright Future" also includes a discussion of the history of the industry and how the west's failure to act early in the last decade allowed China to become the current dominant player in lithium ion batteries and EVs. Yet the past isn't necessarily prologue.

My favorite event on the annual lithium calendar is Panorama Minero's "Lithium South America". My guests on this episode are Daniel Jimenez of iLi Markets, Roland Chavasse of the International Lithium Association and JP Vargas the MD of Galan Lithium.

Sid Subramani has global responsibility for lithium projects at Hatch (@HATCHglobal on X), a professional services and engineering company. Topics: The Hatch role in lithium A typical engagement Red flags Projects: majors vs juniors Big Energy vs Big Mining DLE – when & how significant? Common project mistakes The importance of grade Why projects are late QPs Lepidolite Lithium jurisdictions Specifications Cap-Ex: China vs others The cost curve People Rapid fire

Katie Pyfer is a Senior Director of Energy Storage responsible for global pricing at Albemarle. She has a PhD in analytical chemistry. Topics: Product analysis Managing market cycles Price discovery "Micro" managing Battery demand Commodity or specialty chemical? Tolling The blending game Qualification Competitive tension The benefit of lithium auctions Price transparency Contracts The future of "futures"

I answer listener questions on this episode. Topics: The Future of DLE Argentina production in 2025 Black Swan events Can the US work with China? The Pilbara/LRS deal Is it time for more M&A? US production in 2030 EU lithium potential Hard rock vs brine The Salton Sea Is LFP the future? Oversupply - how long? SQM as a barometer of price Rapid fire