【National Development and Reform Commission Price Monitoring Center: Shenzhen New Energy Vehicle Prices Generally Fell 5%-10% Since the Beginning of This Year】

[Subaru and Panasonic Reach Battery Cooperation Agreement] According to foreign media reports, after months of negotiations regarding long-term supply cooperation for electric vehicle batteries, Subaru and Panasonic Energy have signed a so-called "basic cooperation agreement." The agreement involves Panasonic supplying cylindrical lithium-ion batteries for Subaru's future pure electric vehicles. The dialogue between the two parties began in July 2023, when Subaru was interested in Panasonic's latest high-capacity cylindrical batteries. It is reported that these batteries are likely to be the 4680 batteries (46 mm in diameter and 80 mm in height) or similar models....

【China's domestic power battery installation volume in February is 18GWh, CATL holds over 55% market share】Recently, the China Automotive Power Battery Industry Innovation Alliance (hereinafter referred to as "Battery Alliance") released the power battery monthly data for February of this year. According to the data, in February, China's power battery installation volume declined both year-over-year and month-over-month. From a corporate perspective, CATL's market share exceeded 55%, with BYD's share close to 18%. Specifically, in February, China's power battery installation volume was 18GWh, a year-over-year decrease of 18.1% and a month-over-month decrease of 44.4%. This is in line with the downward trend in the production and sales of new energy vehicles for the month.

On March 12th, lithium carbonate futures surged 4.13% to 119,850 yuan/ton, and spot prices rose to an average of 110,000 yuan/ton, amid market optimism and supply-demand adjustments.

On March 11th, lithium carbonate futures surged 3.28% to 116,400 yuan/ton, and spot prices rose to an average of 109,250 yuan/ton, amidst cautious market optimism.

On March 8th, lithium carbonate futures fell by 0.70% to 113,350 yuan/ton, while spot prices slightly increased to an average of 108,900 yuan/ton, amid ongoing market adjustments.

【SMM Cobalt-Lithium Morning Meeting Summary: Lithium Carbonate Prices Rose Overall on Monday. On the supply side, some lithium salt companies were still in the early stages of resuming production after maintenance, resulting in relatively limited supplies available for spot sales beyond long-term contract orders. Some lithium salt companies have intentions for subsequent deliveries, but overall, lithium salt companies continue to sell long-term contract orders while pricing spot orders firmly. Their spot prices continue to rise. However, downstream companies like cathode material producers have given feedback that due to the recent continuous increase in lithium carbonate prices, while the pricing transmission of their products lags behind the lithium carbonate price hikes, the current pricing transmission situation makes it difficult to fully pass on the increased raw material costs to downstream customers, gradually squeezing production profits...】

On March 6th, lithium carbonate futures fell by 1.17% to 114,000 yuan/ton, while spot prices remained stable at an average of 107,500 yuan/ton amidst market steadiness.

From January 1, 2024, to December 31, 2024, individual consumers who scrap or transfer (excluding change of registration) a non-commercial passenger car registered under their name in Shanghai, and purchase a new pure electric passenger car from an automobile sales institution registered with the Shanghai Market Supervision Administration, for non-commercial use, can apply for a one-time subsidy of 10,000 yuan for the purchase of the car.

[India launches second round of critical mineral block bidding 18 critical mineral blocks involving tungsten, vanadium, cobalt and nickel will be auctioned] According to the Mining.com website, citing Reuters, Indian mining minister Pralhad Joshi revealed on Thursday that a second round of critical mineral block auctions worth 30 trillion rupees (about 362 billion US dollars) will be launched. According to the government announcement, 18 critical mineral blocks will be auctioned, involving minerals including tungsten, vanadium, cobalt and nickel, among others. Joshi added that there will be no more coal shortages in India this year.

In recent years, many cell makers have released 4C fast charging products for LFP batteries, which are used in the field of EV. This move will help quickly increase the market share of LFP batteries in the power sector, and also accelerate the penetration of EVs.