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IDTechEx calculates ~31 GWh of electric vehicle markets beyond cars in 2021

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While there are far fewer trucks than cars globally to convert to electric, they use much larger batteries (several hundred kWh) and accounted for 4.3 Tier 1 cities in China were the first to adopt electric buses, driving rapid growth between 2012-2016, but now many of these markets are saturated. GWh annually in 2021.

Market 150
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USDOT awarding $55M to support purchase of Low-No buses; electric buses and infrastructure

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The funding is for the incremental cost of a battery electric bus over a CNG bus and leverages federal, state, local utilities and local match to purchase the battery electric buses for service expansion. In 2016, KT dedicated local funding to the demonstration of one battery electric bus in its service area located in Kitsap County, WA.

Purchase 191
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Benchmark Mineral Intelligence: Lithium oversupply not likely

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However, Benchmark points out, known domestic Chinese spodumene and other hard rock resources are low-quality, a key reason why there has been an increasing reliance by Chinese converters on Australia for supply instead. In the last two years, higher inflation, supply chain bottlenecks and cost-blowouts have pushed incentive prices higher.

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