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Benchmark Mineral: China’s zero-COVID policies weigh on lithium and cobalt prices

Green Car Congress

Chinese lithium and cobalt sulfate prices fell this month as strict COVID-19 lockdowns in Shanghai and elsewhere limit demand in the world’s largest electric vehicle market. Prices for cobalt sulfate fell by 6%, according to Benchmark’s Cobalt Price Assessment. Consultancy Rho Motion now forecasts Chinese EV sales of 5.6

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The $10,000 BYD Seagull EV is scaring the U.S. auto industry

Teslarati

Although competitive Chinese automaker BYD isn’t yet slated to enter the U.S. market, the company’s recent release of a city EV with a price tag under $10,000 has some worried for when it and other low-cost companies do. auto market anytime soon , some U.S. auto sector,” the organization writes.

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

Teslarati

Morgan Stanley raised its price target for CATL from RMB 184 to RMB 210. 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 Chinese automaker isn’t just focused on China, though.

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Panasonic’s battery unit misses annual profit estimate – ET Auto

Baua Electric

Chinese battery makers grew faster than rivals to account for more than two-thirds of global EV battery capacity last year, according to data from consultancy Counterpoint Research. Operating income for the key segment, which makes batteries for Tesla and other automakers, totalled 88.8 billion yen (USD 570.18

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Comment on Some employees at Li Auto Beijing plant reportedly taking extra break as Li Mega sales remain weak by nov22

CN EV Post

In fact, Li Auto has no genuine technology or gadget of its own. Not packing of battery cell, not extended range engine, not suspension, not sensor, not chips, not software, not motor, and not electric control system, Li Auto does not make any of the critical parts in house. Li Auto can announce the BEV version of L6 tomorrow.

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CATL and BYD target 50% battery price cut this year to make EVs affordable – ET Auto

Baua Electric

This initiative is expected to bring down the price of its VDA specification lithium iron phosphate battery cells to RMB 0.4 This initiative is expected to bring down the price of its VDA specification lithium iron phosphate battery cells to RMB 0.4 RMB per Wh, significantly lower than previous prices.

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Another Tesla price cut possible thanks to plummeting lithium prices

Teslarati

Tesla is poised to benefit from rapidly dropping lithium prices, particularly in China, where the automaker produces nearly half of its vehicles. None of the modern batteries that make electric vehicles possible could exist without lithium. Several factors have likely helped push Chinese lithium to its meager price.

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