Sales of new energy passenger vehicles with Compulsory Traffic Insurance were 188,000 units in March, up 99.1% month-on-month and 288.4% year-on-year.

A summary of the trending news of the New Energy sector. Will Xiaomi’s EV business venture be able to compete with Tesla and BYD?

Recently, the Ministry of Industry and Information Technology, Equipment Centre and other departments held a meeting that set the national standards for low-speed electric vehicles, which are expected to be officially released in September.

Carbon neutrality stocks have attracted market attention recently. In December 2020, the Central Economic Work Conference determined that promoting a peak in coal consumption and carbon neutrality are one of the key tasks to be focused in 2021. China is aiming to improve the system that caps both national carbon intensity－carbon dioxide emissions per unit of GDP－and energy consumption, as it strives to reach a peak in carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060. Carbon neutrality refers to achieving net zero carbon dioxide emissions by balancing carbon dioxide emissions with removal (often through carbon offsetting) or simply eliminating carbon dioxide emissions altogether. It is used in the context of carbon dioxide-releasing processes associated with transportation, energy production, agriculture, and industrial processes. Carbon neutrality is expected be an important part of the "Two Sessions" and the "14th Five-Year Plan” to be held this week. 

China's new energy vehicle market demand has grown rapidly, leading to stronger demand for ternary and iron-lithium materials. The global supply of nickel and cobalt raw materials is tightening, and the increase in downstream demand will support the rise of lithium prices in 2021.

Automobile sales have shown a gradual recovery trend since April. China automobile production and sales have achieved year-on-year growth for eight consecutive months as of November.

In November, NEV sales were 177,000 units based on compulsory traffic insurance, an increase of 40.5% from the previous month.

China's new energy vehicle market demand has grown rapidly, leading to stronger demand for ternary and iron-lithium materials. The global supply of nickel and cobalt raw materials is tightening, and the increase in downstream demand will support the rise of lithium prices in 2021, said SMM’s senior cobalt-lithium analyst Miranda Mei.

According to SMM survey, cobalt prices trended lower in September-October but have stabilised recently. Inquiries for cobalt raw materials and trades rose. A small number of producers reported that they planned to delay the arrivals of raw materials at ports from September to early October, and the overall arrivals are expected to rise from October to November.

The Development Plan for the New Energy Vehicle Industry (2021-2035) suggests that average power consumption of new pure electric passenger vehicles should be reduced to 12 kwh/100 km, sales of new NEVs should reach 20% of total new vehicle sales