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Category: eV
Battery-grade lithium carbonate price roars back to RMB 300,000 per ton after 14 days of consecutive gains
The price of battery-grade lithium carbonate has risen 66.67 percent in China and 111.11 percent for industrial-grade lithium carbonate since the rally began late last month.
Lithium carbonate -- a key raw material for electric vehicle batteries -- has seen prices rise for half a month in China.
The price of battery-grade lithium carbonate reached RMB 300,000 ($42,740) per ton in China today, up RMB 15,000 per ton, or 5.26 percent, from yesterday, the 14th consecutive day of gains, according to Mysteel.
Industrial grade lithium carbonate price today reached RMB 285,000 per ton, up RMB 15,000 per ton, or 5.56 percent, from yesterday, the 17th consecutive day of increases.
This is a rebound in lithium carbonate prices after seeing months of declines, with the Chinese new energy vehicle (NEV) industry suddenly falling into weak growth early in the year.
The price of battery-grade lithium carbonate rose to RMB 590,000 per ton in China on November 23, 2022, up about 14 times from RMB 41,000 per ton in June 2020.
However, factors including weak demand for electric vehicles have caused lithium carbonate prices to decline all the way after heading into 2023.
Prior to April 21, lithium carbonate prices had not seen a single day of gains in China this year, falling about 65 percent since the beginning of the year.
Since the rebound began at the end of last month, battery-grade lithium carbonate prices have risen 66.67 percent in China, and industrial-grade lithium carbonate has risen 111.11 percent.
The rebound in lithium carbonate prices is mainly due to tight supplies, while there has still not been a more significant recovery in demand for NEVs downstream, local media Yicai cited an unnamed industry source as saying in a May 15 report.
China's new energy passenger car retail sales in April were 527,000 units, up 85.6 percent year-on-year but 3.6 percent lower than in March, according to data released by the China Passenger Car Association (CPCA) on May 9.
In some analysts' view, despite the rebound in lithium prices this month, there is still downward pressure in the long run.
Overseas customers will not purchase lithium at prices significantly higher than the Chinese market in the long term, and profit levels for lithium smelters will eventually return to a reasonable range, CICC analyst Feng Tingshuai 's team said in a May 16 research note.
If the rebound in Chinese lithium prices is not strong enough to fully reverse the situation, lithium prices will likely continue to face some downward pressure, the team said.
The accelerating downward trend in lithium carbonate prices is difficult to sustain, and lithium prices are expected to gradually stabilize and possibly even rebound, CICC analyst Zhang Jiaming's team said in an April 20 research note.
However, the team believes the downward trend in lithium prices may not end soon, as the global lithium supply is still in surplus.
($1 = RMB 7.0191)
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NIO offers interior upgrades for 2022 ET7, brings new wireless phone charging panel
The upgrade will be available starting May 31 and will cost owners RMB 1,980. | NIO US | NIO HK | NIO SG
( 2022 NIO ET7 interior. Image credit: CnEVPost)
NIO (NYSE: NIO) launched the 2023 ET7 sedan a month ago, bringing more than 15 upgrades. Now the company is offering an upgrade program for the 2022 ET7 as well.
NIO today announced the rollout of a center module upgrade for the 2022 ET7, bringing improvements including a 40W air-cooled, wireless charging panel and upgraded center buttons.
(Image credit: NIO)
The upgrade will be available on May 31 at 10:00 am Beijing Time and will cost owners RMB 1,980 ($282). NIO will allow owners to pay up to RMB 1,000 with their NIO App credits.
Owners of the 2022 ET7 can reserve the upgrade by paying RMB 1,000 as a deposit on the NIO App after 10 am on May 31.
NIO will initially offer only 500 upgrade slots, and the time required to complete the upgrade is one day.
The installation will start in early June and will not affect any other rights of users.
The ET7, NIO's flagship sedan, was originally launched at the NIO Day 2020 event on January 9, 2021, with deliveries beginning on March 28, 2022.
On the first day of the Shanghai auto show on April 18, NIO launched the 2023 ET7, bringing more than 15 upgrades, including improved seats and a 40w wireless charging panel for cell phones. The model's starting price remains unchanged at RMB 458,000.
With a more comfortable ride, more refined interior and a smarter experience, the improved ET7 continues to lead the direction of change for high-end smart electric mid to large-size sedans, William Li, founder, chairman and CEO of NIO, said at the time.
($1 = RMB7.0139)
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Voyah offers huge benefits for free for flagship sedan before delivery begins
Customers of the Voyah Zhuiguang sedan can now receive substantial benefits for free that previously cost RMB 72,000.
(Image credit: CnEVPost)
Voyah, Dongfeng Motor's new energy vehicle (NEV) subsidiary, launched its first electric sedan a month ago. Now it's starting to offer huge benefits for free before deliveries of the model have even begun, underscoring the fierce competition in the space.
In a post on its WeChat account today, Voyah announced that for customers who order its flagship sedan, the Zhuiguang, multiple options that previously required a fee to get are now available for free.
The options are worth a combined total of RMB 72,000 ($10,300) and include seat massage, air suspension, Dynaudio 14 speakers, steering wheel heating, and the so-called L2.9 assisted driving software package.
The package is effective from May 18 and is also available to customers who have already reserved the model.
Voyah said the free benefits are limited in time, but no expiration date was mentioned.
In addition to making those benefits free, Voyah has streamlined the Zhuiguang sedan lineup, reducing the number of available versions to two from the previous three.
Voyah made the Zhuiguang officially available on the first day of the Shanghai auto show on April 18, when it was offered in three versions starting at RMB 322,900, RMB 352,900 and RMB 432,900, respectively.
In today's announcement, Voyah retained the standard version with a starting price of RMB 322,900 and dropped the other two versions and instead launched a long-range version with a starting price of RMB 385,900.
Voyah previously referred to the two higher-priced versions of the Zhuiguang as the flagship and long range flagship editions, respectively.
(Image credit: CnEVPost)
Voyah is a brand announced by Dongfeng Motor in late 2020, with the first model, the Voyah FREE, launched in China in June 2021, offering a version with extended-range technology as well as an all-electric version.
On May 7, 2022, Voyah's second model, the Dreamer MPV, went on sale, with deliveries starting on July 16.
The Voyah Zhuiguang is 5,088 mm long, 1,970 mm wide and has a wheelbase of 3,000 mm. Its height includes two specifications of 1,515 mm and 1,505 mm.
The model comes standard with a dual-motor four-wheel drive system with a maximum power of 160 kW for the front motor and 215 kW for the rear motor.
Its powertrain has a total power of 375 kW and a maximum torque of 730 Nm, enabling the vehicle to accelerate from 0 to 100 km/h in 3.8 seconds.
The delivery date for the model has not yet been confirmed.
As Dongfeng Motor's flagship brand into the NEV market, Voyah has had a weak performance over the past year.
It delivered 3,339 vehicles in April and a total of 9,021 so far this year.
Yu Fei, Voyah's general manager of sales, has left, and people in the marketing business have seen many other changes, marking the collapse of the company's second-generation marketing management structure, which was put in place last July, local media outlet Yicai said in a May 13 report.
($1 = 6.9986 yuan)
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