China’s annual electric bicycle sales have exceeded 30 million units in the past few years, with social e-bike ownership rising close to 300 million units, and output of bikes over 1,000 yuan continues to increase, according to China Bicycle Association. In 2019, output of high-end products such as lithium-ion battery e-bikes stood at nearly 5 million units, accounting for 13.8% of total e-bike output.
E-bike output has increased gradually since April 2020. Data from the Ministry of Industry and Information Technology (MIIT) showed that e-bike output totalled 22.85 million units in the first nine months of 2020, jumping 30.3% from the same period last year.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.