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I don't think that's right - every purchase is a cost-benefit equation. A small difference in price matters when other expenses exist, namely mortgages, and I think that consumers factor this in when deciding between EVs and ICEs, particularly when he price of second hand vehicles (and fuel) is now falling.

Having said that, I do think long-term demand will increase. Governments have legislated a baseline level of demand. There is a global trend towards electrification. There is a Western trend to renewable energies which will require a storage solution too.

I think there is also going to be demand for mines from car companies (see Musk's comments)

The difficulty is what happens in the short term, which I think will be dictated by consumer trends, China and the overall economy....