SMM EV Battery Market Summary on December 29 [SMM Evening News]

SMM December 29 report: Dealers in Hubei region reported weak end-use consumption of electric batteries, with poor battery sales. Meanwhile, manufacturers actively promoted sales at year-end, and current battery inventory exceeds one month. Additionally, the main model 48V20Ah is priced at 400-410 yuan per set. Manufacturers in Zhejiang region noted a weak demand for e-bike battery replacements, with low dealer enthusiasm, leading to an accumulation of finished battery inventory. The current operating rate of factories is 70-80%, and they plan to take a two-day holiday during the New Year's Day. In Jiangsu region, manufacturers indicated an overall sluggish demand for e-bike batteries, especially after the implementation of the new national standard for e-bikes, as consumers are still in the adaptation period. Orders for new vehicle installations have weakened, and the current factory operating rate is below 80%. They also plan to take a 4-5 day holiday during the New Year's Day.