The Price of Lithium Battery Materials Has Skyrocketed! Ministry of Industry And Information Technology

Recently, domestic power battery prices have continued to rise, forcing new energy vehicle companies to increase vehicle prices, or to cancel relevant rights and interests of vehicle owners to disperse the cost pressure on the supply chain.

Xpeng, BYD, Leapmotor, Geometry, Great Wall, Chery and other new energy car companies have announced price increases ranging from thousands to tens of thousands; Tesla even increased prices by 30,000 yuan within eight days.

On March 26, it was reported that Xin Guobin, vice minister of the Ministry of Industry and Information Technology, said at the China Electric Vehicles 100 Forum that the current issue of the sharp rise in the price of raw materials for power batteries needs to be paid close attention to and be carefully studied and solved.

Xin Guobin mentioned that we will moderately speed up the development of domestic resources, resolutely crack down on unfair competition such as hoarding and speculation, and guide upstream and downstream enterprises in the industry chain to strengthen cooperation, achieve win-win development, and promote the return of key raw material prices to rationality.

In addition, it is worth mentioning that in response to the soaring price of lithium carbonate in powerbatteries, Li Bin, chairman of Weilai, also said at the financial report meeting:

"We have conducted in-depth research on all upstream links and believe that there are more speculative factors in the current price increase of lithium carbonate, and there is not such a big gap between supply and demand. Recently, we have also seen that the Ministry of Industry and Information Technology and other competent authorities are coordinating the price mechanism. We Call on upstream lithium mines, lithium salts and other manufacturers to proceed from long-term interests and not artificially increase prices, which is not a good thing for the industry.”