What do the price of Pfizer and Moderna shares and key components of EV batteries have in common? All down by around 50-70% over 2023

What do they price of Pfizer and Moderna shares and key components of EV batteries have in common? Both are down by around 50-70% over 2023

The share prices of Pfizer and Moderna have been making the news lately.

Not the charts investment managers want to have to explain to pension fund trustees!

What is not making so much news is the prices of the metals used in EV’s like these:

Visualized: What is the Cost of Electric Vehicle Batteries? (visualcapitalist.com)

We know that the market for EV’s has “come under pressure” from over supply, lack of demand and higher interest rates lately, but what about the prices of those expensive EV batteries?

Average Electric Vehicle Prices Plummet As Oversupply Concerns Grow (insideevs.com)

“In July 2023, the average price Americans paid for a new EV was $53,633. In August 2023, the price fell by $257 to $53,376. That's a remarkable 18.7 percent lower than the average transaction price of $65,688 in August 2022. The effective prices could be even lower after factoring in federal and state incentives.”

Here are prices for the metal components over 2023 taken from here:

Daily Metal Price: Lithium Price (USD / Kilogram) Chart for the Last Year

And manganese taken from here:

Manganese Ore - Price - Chart - Historical Data - News (tradingeconomics.com)

Good news for EV buyers seeking to buy replace batteries and new EV buyers – not so good for “early adopters” that just might be experiencing alittle “buyers remorse”.

Of course, the next battery might just be made of “stuff” that is eve cheaper that the old lead acid batteries in ICE vehicles!

Onwards!

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