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The development of the electric two-wheeler market can be virtuous in terms of the exploitation and availability of natural resources needed to manufacture batteries.
The car industry, which has long been a capital intensive, cyclical and low margin business, is beginning to show signs of undergoing a transition.
This means the penetration rate of NEVs rose to 17.8% in August, also reaching a record high.
While lithium markets were previously oversupplied, lagging investment in additional production capacity could result in shortages of the key raw material for batteries as EV demand surges.
The International Nickel Study forecasts the nickel market supply surplus to broaden to 2.673 million tonnes in 2021.
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