The slowdown in China’s electric vehicle sector could have knock-on effects on the battery metals market in both the short and long run, commodities analysts at Argus Media said in a new report. A weaker economy and lower new energy vehicle (NEV) subsidies that were introduced in 2019 led to a drop in Chinese vehicle production and sales last year. Overall, China produced 1.24 million NEVs during the year, down 2.3 percent from the 1.27 million produced in 2018, and significantly lower than the initial production target of 1.5 million NEVs. The country sold 1.21 million NEVs last year, a 4 percent drop from 1.26 million in 2018, Argus. China currently represents almost 60 percent of global electric vehicle (EV) sales, according to data compiled by Argus, and a weaker industry in China has disproportionate effects on the global market. The coronavirus outbreak has put further downward pressure on […]