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Cathode	Ac(ve	Materials	Demand	vs	Supply	–	Europe



        There	is	an	expected	substan(al	shorYall	(600,000	tpa)	in	cathode	ac(ve	materials	plants	and	produc(on

        capacity	in	Europe	forecast	to	2030.


        	 Nickel	rich	cathodes	such	as	NCM	con(nue	with	dominant	market	share.	By	2030,	LFP/LMFP	will	take	over	mid	nickel	NCM	market

        share	in	Europe	with	around	25%	of	ba=ery	electric	vehicles	produced	in	Europe	expected	to	use	LFP/LMFP	ba=ery	cells.





































        Source:  Benchmark Mineral Intelligence                                                                           Source:  Source:  Advanced Propulsion Centre UK, Q1 2022      Page	7
                                                                                                                          Automotive Industry Demand Forecast, June 2022.
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