Lithium Battery News on January 29 2024

[Nissan plans to produce lithium iron phosphate batteries, with shipments to emerging markets starting from fiscal year 2026] According to Nikkei news on January 27th, it is reported that Nissan Motor plans to produce lithium iron phosphate (LFP) batteries for electric vehicles, and expects to start shipping to emerging markets from the 2026 fiscal year. Nissan is currently developing LFP batteries at its research facility in Atsugi, Kanagawa Prefecture, Japan.

[KEDA Manufacturing: Net profit for 2023 forecast to decrease by 49% year-over-year] KEDA Manufacturing announced that it is expected to achieve a net profit of about 2.15 billion yuan attributable to shareholders of the listed company for the fiscal year 2023, a decrease of about 49.42% year-over-year. In recent years, with the fluctuations in the price of lithium carbonate in the market as well as the release of lithium carbonate production capacity of the company's invested company, Lanke Lithium Industry, Lanke's operations have had a significant impact on the company's performance. During the reporting period, Lanke Lithium Industry achieved good growth in production and sales year-over-year. The terminal price of the lithium carbonate market fell from about 500,000 yuan/ton at the beginning of the reporting period to below 100,000 yuan/ton by the end of the reporting period. With the severe fluctuations in the price of lithium carbonate, the performance achieved by Lanke Lithium Industry decreased by about 62% compared to the same period last year, resulting in a decrease of about 2.1 billion yuan in its impact on the net profit attributable to shareholders of the listed company year-over-year.

[Tianli Lithium Energy: Expected net loss of 350 million yuan to 500 million yuan for 2023] Tianli Lithium Energy announced an expected net loss of 350 million yuan to 500 million yuan for 2023, compared to a net profit of 130 million yuan for the same period last year. The price of the main raw material, lithium carbonate, had a significant drop in 2023, especially in the fourth quarter, further reducing lithium carbonate prices, leading to large inventory depreciation provisions and increasing the company's losses.

[Thai government urges Tata Motors and Mahindra, two major Indian automakers, to establish factories in Thailand] The Thai government released a statement on January 27th saying that Thailand has urged two major Indian automakers—Tata Motors and Mahindra—to build factories in Thailand. Thai trade representative Nalinee Taveesin had talks with executives of the two companies during her recent visit to India. According to the statement, Nalinee said that Tata Motors could consider Thailand as its export hub for electric vehicles and battery products.

[South Korea's car exports hit 2.76 million units last year, an eight-year high] Data released on Sunday by the Korea Automobile Manufacturers Association (KAMA) showed that six South Korean automakers exported a total of 2.76 million cars to 196 countries last year, a 20.1% increase year-over-year, setting an eight-year record high. This is the first time since 2015 that South Korean automakers have exceeded 2.7 million units in annual exports.

[Cui Dongshu: Going overseas will become the next boom for the automotive industry in the next 10 years] Cui Dongshu, Secretary-General of the China Passenger Car Association, said in an article published on his personal WeChat public account on January 28th that with a breakthrough in the independent automotive industry, China has become the world's largest single automotive market and has fostered a number of high-quality vehicle and parts companies. While consolidating the domestic market, these companies are also continuously promoting overseas expansion. By 2023, China has become the world's largest car exporting country. The resilience of China's automotive industry chain is relatively strong, and its relative competitiveness globally is rapidly increasing, which is the core driving force for the globalization of China's automotive industry. When we break through the scale of 30 million vehicles produced and sold, occupying 33% of the world's market sales, we must have the ambition to push Chinese car production and sales beyond 40 million, and further towards 50 million, striving to increase China's share of the global car market to over 40% and moving towards 50%. With the share of Chinese products in industries such as home appliances reaching nearly 60%, Chinese car companies still need to work harder both at home and abroad. Going overseas will become the next boom for the automotive industry in the next 10 years.

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