Is the end-of-cycle discount on platinum group metals justifiable?

asset manager Ninety One struck a positive note for locally listed platinum group metal (PGM) stocks in a recent report, saying they were under-bought on the basis that the introduction of battery electric vehicles (BEVs) does not immediately spell the end of the internal combustion engine.

Vehicles powered by internal combustion engines need PGMs in their autocatalysts whereas BEVs don’t. However, Ninety