An increase of 5%-15% Lithium battery cells will increase prices early next year: electric car prices may increase
Since the second half of this year, the price of electric vehicle batteries has been rising.
According to data, the current price of NMC (811) batteries is nearly US$110/kWh. The price in the fourth quarter is expected to be 63.7 yuan per kWh higher than that in the first quarter; and iron phosphate Lithium batteries, domestic prices have risen 10%-20% since September.
lithium battery price increase
According to media reports recently, the battery module factory has been notified that due to the rising downstream demand for electric vehicles and battery energy storage, the price of cylindrical lithium battery cells will rise again at the beginning of next year by 5%-15%, and the price of batteries will increase. The tide may continue until 2023.
Since the second half of this year, the price of electric vehicle batteries has been rising. According to data, the current price of NMC (811) batteries is nearly US$110/kWh. The price in the fourth quarter is expected to be 63.7 yuan per kWh higher than that in the first quarter; and iron phosphate Lithium batteries, domestic prices have risen 10%-20% since September.
The increase in battery prices is mainly related to the continuous growth of the new energy vehicle market and strong demand. According to the latest statistics from the Passenger Association, the sales of domestic new energy passenger vehicles in October was 321,000 units, a year-on-year increase of more than 141%.
More than 191%
From January to October, the total retail sales of new energy vehicles reached 2.139 million units, a year-on-year increase of more than 191%.
As of the middle of last month, the price of battery-grade lithium carbonate was 19.5 yuan/ton, an increase of over 230% from the beginning of the year; while the yellow phosphorus and phosphoric acid necessary for the production of lithium iron phosphate batteries rose by 280% during the year.
The strong demand for lithium batteries has driven the expansion of the entire battery industry. Since the beginning of this year, power battery head companies including CATL have announced that the total amount of new production capacity in the next five years will exceed 2TWh, which is about 20% of this year’s installed vehicles.
However, industry professionals predict that the lithium battery industry will usher in a “blowout” in the next 5 years.
However, rising battery raw material prices will inevitably lead to an increase in the price of new energy vehicles, which will not only increase the burden on consumers, but may also slow down the cost reduction process of the electric vehicle industry.
