China held a symposium on the supply chain of automobile batteries to guide the rational return of lithium prices
Lithium prices have surged nearly 500% in the past year, the burgeoning electric car industry is dealing with risks from rising costs.
China wants lithium prices back to sustainable levels.
According to a March statement from the Ministry of Industry and Information Technology, the government convened a range of market players, from lithium producers to major automakers’ associations, to discuss the “rational return ” for lithium prices.
Prices surged 500%
Lithium prices have surged nearly 500 percent in the past year, adding to cost pressures on electric-vehicle makers.
The symposium aims to ensure the supply and price stability of lithium resource products, and promote the healthy development of the new energy vehicle and power battery industries.
It also discussed key issues of supply, the formation mechanism of market prices for lithium salt products, and policy measures to ensure supply and stabilize prices.
Lithium prices in China continue to set records as demand from electric vehicle makers accelerates, outpacing supply.
The booming electric-vehicle industry is dealing with risks from rising costs, with some automakers feeling the pressure and raising prices for their products.
The participating organizations of the symposium include China Nonferrous Metals Industry Association, China Association of Automobile Manufacturers, China Automobile Power Battery Industry Innovation Alliance and other industry organizations, as well as key upstream and downstream enterprises in the industry chain such as lithium resource development, lithium salt production, cathode materials, and power batteries.
