[SMM Analysis] Battery Cell Prices Remained Stable This Week, as Early-Year Vehicle Sales Are Expected to Decline

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This week, power battery cell prices remained stable. According to SMM data, the price of 100Ah prismatic LFP battery cells was 0.365 yuan/Wh, while the price of 6-series prismatic ternary battery cells was 0.515 yuan/Wh. At the beginning of 2025, due to the Chinese New Year holiday, NEV sales are expected to decline. Meanwhile, with the end of the rush for power battery installations, demand for power batteries weakened in December, leading to a drop in battery cell orders. Battery cell manufacturers slightly reduced their December production schedules to control inventory by year-end.

SMM New Energy Research Team

Cong Wang 021-51666838

Xiaodan Yu 021-20707870

Rui Ma 021-51595780

Ying Xu 021-51666707

Disheng Feng 021-51666714

Yujun Liu 021-20707895

Yanlin Lü 021-20707875

Zhicheng Zhou 021-51666711

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Xiaoxuan Ren 021-20707866

Yushuo Liang 021-20707892

Jie Wang 021-51595902

Yang Xu 021-51666760

Lianting Yang 021-51595835