Lujia after-sales battery price inquiry

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Roy Lu, a senior industry analyst, said the price rise will narrow NEV profitability and lead to a risk of battery supply suspension for lower-priority car companies. This will affect the

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6 FAQs about [Lujia after-sales battery price inquiry]
Why are lithium-ion batteries so expensive?
The cost of raw materials, particularly lithium carbonate, plays a significant role in the pricing of lithium-ion batteries. The recent decrease in lithium prices has been a major factor in lowering battery costs. As lithium is a key component in these batteries, fluctuations in its price directly impact the overall cost of battery production.
How will Lithium prices affect EV battery prices in 2023?
Effect on Battery Prices: The decrease in lithium prices is expected to further lower the prices of lithium-ion batteries, continuing the trend observed in 2023. In June 2024, the average prices for EV battery cells saw a decrease: Square Ternary Cells: Priced at CNY 0.49 per Wh, down 2.2% from May.
Why is China's Lithium battery price increasing?
China's second-largest battery supplier said in a statement that the price increase is due to market turbulence, several regions have imposed curbs on industrial output and electricity usage, and a substantial increase in the production cost of lithium.
Will a rise in battery prices affect a low-priority car company?
Gotion High-tech, Guangzhou Great Power Energy and Technology Company, Far East Battery and many other battery suppliers have posted similar notices recently. Roy Lu, a senior industry analyst, said the price rise will narrow NEV profitability and lead to a risk of battery supply suspension for lower-priority car companies.
How much does a lithium ion battery cost in 2023?
In 2023, lithium-ion battery pack prices reached a record low of $139 per kWh, marking a significant decline from previous years. This price reduction represents a 14% drop from the previous year’s average of over $160 per kWh.
Are lithium-ion batteries on a downward trend?
The price of lithium-ion batteries has been on a downward trend, reaching a record low of $139 per kWh in 2023 and continuing to decrease into 2024. The reduction in lithium prices, increased production capacity, and technological advancements have all contributed to this trend.
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