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Benchmark: Chinese cell oversupply putting pressure on Tier 3 producers

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Continued investment in China’s battery production scene is increasingly pushing its market into oversupply, putting strain on Tier 3 producers which are unable to access large global EV markets and are forced to compete in the saturated domestic space, according to Benchmark Mineral Intelligence.

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Battery-grade lithium carbonate forecast to trade at $74K/tonne in 12 months

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Trading Economics global macro models and analysts expectations forecast battery-grade lithium carbonate to trade at 504,813 CNY (US$74,000) per tonne in 12 months time. Lithium carbonate is forecast to trade near its high. Lithium is expected to trade at 484,185.00 by the end of this quarter. Source: Trading Economics. Earlier post.).

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Benchmark: China will increase share of global cathode production to 87% in 2030

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Data from Benchmark Mineral Intelligence’s Cathode Forecast shows that China is set to extend its dominance of cathode production by 2030, increasing its share of production from 78% in 2022 to 87% in 2030. China’s output of cathode active materials increased more than four times between 2018 and 2022. times in the same period.

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BYD Chairman forecasts falling profit margins in 2024

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BYD Chairman Wang Chuanfu forecasts falling profit margins in 2024 but remains confident that the company will maintain stable profitability. Wang predicted that the intensifying price war in China would result in falling profit margins for BYD. BYD hopes to ensure stable profitability by improving sales.

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Morgan Stanley raises CATL price target & forecasts strong profit growth for 2024

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Morgan Stanley forecasted that the Chinese battery supplier will return to solid profit growth later in 2024. ” The China-based battery supplier’s shares surged by 14.5% ” The China-based battery supplier’s shares surged by 14.5% The Chinese automaker isn’t just focused on China, though.

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CRU: Chinese EV sales hit hard by COVID-19 outbreak, but only for short-term

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The COVID-19 has hit the Chinese EV sector hard; CRU, a provider of business intelligence on the global metals, mining and fertilizer industries, believes that weak sales will last at least until early Q2 2020. Nonetheless, it continues to forecast Chinese EV sales growth in 2020 over 2019’s total.

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Groupe Renault changes China strategy: light commercial vehicles and electric passenger cars

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Groupe Renault is setting a new strategy for China, based on Electric Vehicles (EV) and Light Commercial Vehicles (LCV). With 860,000 electric vehicles sold in China in 2019, China is by far the largest EV market in the world. EV sales are expected to reach 25% of the Chinese market by 2030. Ltd (JMEV). It reached 3.3

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