Ouyang Minggao, Academician of the Chinese Academy of Sciences: the supply and demand balance of lithium resources is expected to return to normal in 2-3 years.

Ouyang Minggao, vice chairman of the China Electric vehicle 100 Association and academician of the Chinese Academy of Sciences, said at the eighth China Electric vehicle 100 Forum that the reason for the rise in the price of power battery materials is basically the same as that of lithium resources in 2016-2018. Compared with the previous round of fluctuations, due to stronger demand and expected growth, coupled with the impact of the epidemic, prices fluctuated more widely. It is expected that the balance of supply and demand of lithium resources may return to normal in 2-3 years. However, in view of the deterioration of the global trade environment and the speculation of nickel prices brought about by the war between Russia and Ukraine, in order to deal with supply security, government departments should introduce relevant policies and take effective measures to combat hoarding and curb short-term price fluctuations, otherwise it will have a significant impact on the development of electric vehicles.