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Rebound in March Lithium Prices Supports Steady Prices for EV Batteries; Price Pressures Persist Despite Anticipated Demand Increase in Q2, Says TrendForce

12 April 2024

This uptick in raw material costs has provided a solid foundation for EV battery prices in China to hold steady, with notable stability observed across various battery types, including square ternary, square LFP, and pouch-type ternary EV batteries, which posted average prices of CNY 0.48/Wh, 0.42/Wh, and 0.50/Wh, respectively.

EV Battery Prices Fell by 4–7% in January, Decrease Expected to Slow Down in February, Says TrendForce

2 February 2024

TrendForce’s latest research indicates that the global lithium battery market remained subdued in January, with cell makers still working through their inventories and production rates lingering at low levels. The ASP of EV cells has continued to fall—the most significant drop was observed in EV pouch cells, which saw a MoM decline of 7.3% to CNY 0.51/Wh. While prices are expected to continue declining in February, the rate of decrease is likely to slow down.

EV Battery Prices Dropped Significantly in December but are Expected to Stabilize by 2Q24, Says TrendForce

4 January 2024

TrendForce reveals that the ASP of Chinese EV cells saw a 6–10% decrease in December. The prices for EV square ternary cells, LFP cells, and pouch ternary power cells fell to CNY 0.51/Wh, CNY 0.45/Wh, and CNY 0.55/Wh, respectively.

EV Battery Prices Drop 3–4% in November, Market Demand Expected to Rebound in 2Q24, Says TrendForce

4 December 2023

TrendForce’s latest investigations reveal that the battery industry’s operating rate fell in November due to a significant cooling in end-user demand. Falling prices of key raw materials like lithium, cobalt, and nickel led to a consistent downward trend in battery cell prices. In November, prices of Chinese EV battery cells dropped by approximately 3–4% MoM, consumer LCO cells decreased by 2.5%, and storage-type cells fell the hardest at 6.8%.

EV Battery Price Decline in October Narrows to 2%, Expected Downtrend to Continue Through 2024, Says TrendForce

3 November 2023

TrendForce reports that China’s EV battery market is undergoing a period of turbulence due to an overall lack of demand. Battery suppliers are reportedly reluctant to replenish their inventories and are instead, focusing on depleting existing stocks. This has resulted in insufficient demand to support the prices of upstream lithium materials, leading to a continuous decline in ASP.

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