Chinese Energy Market Update
EV Battery Prices Dive, Energy Storage Demand Surges, and Lithium Prices Stabilize
EV Battery Prices in Chinese Markets Continue to Decline with a Moderating Rate
The downward trend in EV battery prices in Chinese markets persisted throughout June, although the rate of decline across all product types has started to taper off. The average selling prices (ASP) of different EV battery types, including square ternary cells, LFP cells, and pouch ternary power cells, each experienced a monthly decline of 1–2%, settling at 0.74/Wh, 0.65/Wh, and 0.78/Wh, respectively. The primary driver behind the falling cell prices was a decrease in upstream material costs. Despite the slowing decline, the market for EV batteries gradually stabilized in June, recovering to levels last observed in the fourth quarter of 2022.
Rebounding Market Demand for Energy Storage Cells, Driven by Overseas Markets
The market demand for energy storage cells witnessed a significant rebound, particularly in overseas markets. Chinese suppliers received substantial large-scale orders from buyers during the first half of 2023, and the focus for the second half of the year is expected to be primarily on…
