The Future of Lithium Intensity

When we first started talking about recycling it was really predicated on high nickel chemistries. If the world moves increasingly towards LFP or LMFP that doesn't have nickel and cobalt in it, how does that change the economics? It actually changes them quite a bit. Do you think recycling will actually have to be subsidized or somehow considered in the overall economics of selling an EV? I definitely think either subsidization or some level of regulation is going to become necessary for large quantities of LFP batteries.