[SMM Analysis] Power Battery Cell Prices Stabilized This Week, Weekly Production Schedule Increased Slightly

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This week, power battery cell prices stabilized, with 100Ah prismatic LFP battery cell prices at 0.343 yuan/Wh and 6-series prismatic ternary battery cell prices at 0.493 yuan/Wh. This week, battery cell production schedules increased slightly, with total power battery cell production in March expected to reach 127GWh, up 14% MoM. Among them, LFP power batteries performed strongly, accounting for approximately 76%, up 17% MoM. Ternary batteries showed moderate growth, up only 7% MoM. In the first week of March, passenger NEV sales based on traffic compulsory insurance reached 132,000 units, up 22% MoM, with a penetration rate exceeding 38%. From the perspective of price band structure, the share of car models priced at 200,000-300,000 yuan increased to 42%, becoming the core driver of market growth. On the raw material side, the current supply-demand imbalance in the lithium chemicals market has kept cost-side pressure on battery cells manageable, but the price negotiation between cathode manufacturers and battery cell manufacturers continues, with lithium chemicals discount rate discussions yet to be finalized.

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