In July, EV battery prices in China demonstrated stability, with lithium salt prices registering a marginal decline. The prices of EV square ternary cells, LFP cells, and pouch ternary power cells in July remained relatively consistent with the prior month, positioned at CNY 0.73/Wh, 0.65/Wh, and 0.78/Wh, respectively. This trend comes amid relatively muted demand in the EV sector, according to TrendForce research.
TrendForce’s report on the “Development of Solid-State Batteries for NEVs” has news for the EV industry: Automakers are actively ramping up their investments and research into solid-state batteries.
TrendForce reports that EV battery prices in Chinese markets continued to decline throughout June, though the rate of decline across all product types has started to taper off. The ASP (CNY) of EV square ternary cells, LFP cells, and pouch ternary power cells in June each fell by 1¬–2% MoM, settling at 0.74/Wh, 0.65/Wh, and 0.78/Wh, respectively.
TrendForce reports that May proved to be a turning point in the lithium salt market, highlighting a notable surge in prices. The price of battery-grade lithium carbonate and lithium hydroxide in China skyrocketed from less than CNY 200,000/ton (~USD 28,000) to over CNY 300,000/ton (~USD 43,000).
Additionally, prices of lithium hexafluorophosphate (LiPF6)—a key raw material used in electrolytes— have recently started to rise again, prices of anode materials, iron phosphate, and lithium battery copper foil have almost bottomed out, and China’s EV battery industry chain is gradually stabilizing.