Dr. Qichao Hu

And also you can have a hot pot inside this.

So the utility...

It's way more enjoyable driving an EV than a regular car because of all the new utilities.

I would say the US EV market is unique in the sense the subsidy went away as of September last year.

Without the subsidy, the economics changes.

And also, U.S.

market is a moated market in the sense a lot of cars from Asia, it's hard for those to come in without a tariff.

So that also changes the market.

I mean, it does to a certain extent, but now the supply chain is quite diverse.

A lot of the lithium comes from South America, Australia.

They get refined.

in China and also some in Canada, and then they get assembled into batteries.

So in terms of availability of this, it's not an issue anymore.

Of course, sometimes the raw material price fluctuates and that influence the cost of battery, but in terms of availability, no, it's not a limitation.

So thank you.

Yeah.

Cobalt is used in the foam.

For example, in the foam, the cathode is called lithium cobalt oxide.

It's basically all cobalt.

But then in the EV, there are two types.