【2.2 Lithium Battery News】

【Jinyuan Shares: Plans to Establish a Subsidiary to Develop Deep Processing of Lithium Slag and High-Value Comprehensive Utilization Projects】Jinyuan Shares has announced that its subsidiary Jinyuan New Materials intends to jointly invest with Jiushengfeng Technology and Zhang Jiansheng to establish Jiangxi Jinyuan Lithium Co., Ltd. in Shangrao, Jiangxi Province, to collaborate on the development of projects for deep processing of lithium slag and its high-value comprehensive utilization.

【Yongbai Technology: Signs Joint Research and Development Agreement with LGES】Yongbai Technology has announced the signing of a joint research and development agreement with LGES to conduct comprehensive in-depth cooperation in the fields of lithium iron manganese phosphate, precursor-free cathode materials, and high nickel high voltage materials, including but not limited to technical development, manufacturing, and product sales.

【New Force Brands' Performance Report for the Start of the Year Released: Xpeng and NIO See Significant Drop in January Deliveries】Yesterday, several new force brands published their January delivery performance reports. Since 2024, competition in the new energy vehicle market has intensified, with multiple new force brands experiencing significant drops in deliveries. Among them, Xpeng's month-on-month deliveries fell by nearly 60%, NIO by 44%, and Leapmotor by 34%. In addition, Li Auto, the delivery champion among the new forces in 2023, saw a "stall" in sales in January 2024. Cui Dongshu, Secretary General of the China Passenger Car Association, stated that the automotive market had strong promotional activities in December last year, and the start of 2024 is under greater pressure.

【Toyota Motor's Downtime Extension at Four Domestic Factories in Japan】According to NHK reports on February 1 local time, due to the testing scandal at Toyota Group's subsidiary Toyota Automatic Loom Works, the downtime at six production lines across four of Toyota Motor's domestic factories in Japan will be extended to February 5th, with the timing of the production restart still being unclear.

【Beijing: Stabilize and Expand Traditional Consumption While Cultivating and Strengthening New Types of Consumption】The 2024 Beijing Municipal Government work report task list was released, mentioning that significant efforts will be made to stimulate potential consumer demand. Traditional consumption will be stabilized and expanded, boosting major consumer spending such as new energy vehicles and electronic products, promoting equipment updates, actively promoting automobile circulation, and greatly developing green and health consumption. Efforts will include introducing flagship stores and first releases, and enhancing the promotion of local brand IPs. Proactive efforts will also be made to create new growth points in consumption such as trendy national products, encourage time-honored enterprises to innovate business models, and introduce a batch of international consumer brands. The aim is to improve the quality of life services, cultivate and strengthen new types of consumption, and promote new digital consumption scenarios, developing smart stores, blocks, and business districts. Online consumption recovery and development will be promoted, enhancing the role live commerce plays in driving online consumption. Vigorous development of the new "bonded+consumption" model will be encouraged.

【Cui Dongshu of the China Passenger Car Association: China Accounted for 38% of the Global Automobile Share in December 2023】Cui Dongshu, Secretary General of the China Passenger Car Association, mentioned in an article that the global automobile sales from January to December 2023 reached 89.18 million units, an increase of 11% year-on-year, but still 5% below the peak levels of recent years, with the gap narrowing. Due to the strong performance of the Chinese car market, the global automobile sales in December approached the peak value, significantly improving the operation of the global automobile industry and leading to an improvement in sales for international automakers. In December 2023, the global automobile sales amounted to 8.2 million units, an 11% increase year-on-year but still about 5% lower than in December 2017, representing the second-highest level in historical terms. In December 2023, Chinese carmakers held a 38% share of the world market, with a cumulative share of 34% for the year.

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