Smart and Sustainable Electric Mobility
BYD has held discussions with Sigma Lithium about a possible supply agreement, joint venture or acquisition, an executive at the NEV maker said, according to the Financial Times.
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As demand in the power and energy storage battery markets cools, cell makers have adjusted their capacity utilization rates downward to reduce inventory.
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Lithium carbonate prices are expected to still have room to fall, with the supply-demand balance point expected to occur by the end of 2024 or 2025, an expert said.
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China's lithium battery industry's overcapacity will continue into 2024, and battery prices will still decline next year, TrendForce said.
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The average price of battery-grade lithium carbonate in China is falling close to RMB 150,000 per ton, about half of what it was at the end of June, as supply-demand imbalances continue.
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Nio CEO William Li told CnEVPost last month that every RMB 50,000 drop in the price of lithium carbonate would result in roughly a 1.5 percent improvement in gross margin for the company.
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The price of battery-grade lithium carbonate fell below RMB 200,000 per ton for the first time in four months, as industry players' expectations of supply-demand balance changes.
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Battery-grade lithium carbonate prices are still sinking, but lithium suppliers have begun to cut production and the market is looking forward to the September-October demand season, TrendForce said.
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CATL asked cathode material suppliers in early July to offer a 5 percent to 10 percent discount in settling lithium carbonate prices, according to local media.
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CATL asked cathode material suppliers in early July to offer a 5 percent to 10 percent discount in settling lithium carbonate prices, according to local media.
The post CATL reportedly asks suppliers to offer up to 10% discount on lithium carbonate prices appeared first on CnEVPost.
For more articles, please visit CnEVPost.
