Due to the rising prices of upstream raw materials, the trend of rising prices of new energy vehicles is still spreading. A few days ago, Weilai, a new car-making force that has not chosen to raise prices for a long time, finally raised the starting price of ES8, ES6 and EC6 versions by 10,000 yuan from May 10, 2022. Tesla CEO Musk is also helpless in the face of rising raw material prices. He recently said on social media that because the metal cost of manufacturing key components of power batteries has become very high, Tesla may directly set foot on a large scale Lithium mining and refining operations.
The main raw materials of power batteries include positive electrode materials, negative electrode materials, separators and electrolytes, etc. These raw materials are greatly affected by the price of lithium, nickel, cobalt and other commodities or chemical raw materials. Since the second half of 2021, the prices of lithium, cobalt and nickel, the main raw materials of power batteries, have all risen sharply. Data released by the China Automotive Power Battery Industry Innovation Alliance shows that compared with the beginning of last year, the average price of mainstream ternary lithium battery cathode materials has increased by 108.9%, the average price of lithium iron phosphate battery cathode materials has increased by 182.5%, and the average price of ternary lithium battery electrolyte. Up 146.2%, lithium iron phosphate battery electrolyte rose 190.2% on average.
In the past year, the global sales of new energy vehicles was 6.75 million, doubling year-on-year. Among them, the production and sales of new energy vehicles in my country increased by about 160% year-on-year, with sales reaching 3.52 million. Due to the optimistic development prospects, the industry's forecast for my country's new energy vehicle sales this year has been adjusted from 5 million to 5.5 million or even 6 million.
However, the demand for new energy vehicles has increased significantly, but it is difficult for the supply to keep up with it in time. Affected by the epidemic, the expansion plans of related raw material manufacturers were forced to shelve or postpone; in addition, although there are more than a thousand battery manufacturers in my country, only about ten companies can produce power batteries on a large scale, and the battery production lines are customized and other characteristics, the production capacity is restricted by factors such as model sales.
It is understood that the cycle of power battery expansion takes 6-8 months, the production of raw materials generally takes one and a half years, and the increase of mining capacity such as lithium mines takes two and a half to three years. Since last year, the global demand for new energy vehicles has grown rapidly, and the demand for raw materials such as power batteries has increased. Stimulated by the expected high sales of new energy vehicles this year, the imbalance between the supply and demand of raw materials for power batteries has further aggravated.
It should be pointed out that this time the cost of batteries has risen, as well as the human factor of capital speculation. Industry insiders believe that new energy vehicles are one of the hottest and most promising industries at present, attracting capital from all over the world. This round of unconventional increases in raw material prices deviates from the normal supply and demand relationship and is an irrational increase. There are unfair competition behaviors such as hoarding and deliberately driving up prices in order to seize the last window before production capacity expansion.
It should be seen that after long-term market cultivation, the development of my country's new energy vehicle industry has gradually changed from policy-driven to policy-driven and market-driven, and has entered a new stage of comprehensive market-oriented development. . If the irrational price increase of power battery raw materials intensifies, it will inevitably lead to a sharp increase in the price of new energy vehicles, which will adversely affect the sales and industrial development of new energy vehicles.
In this regard, the relevant departments have begun to take action. The relevant person in charge of the Ministry of Industry and Information Technology said that it will focus on meeting production needs such as power batteries, moderately speed up the development of domestic lithium, nickel and other resources, and combat unfair competition such as hoarding and price gouging. Recently, the Ministry of Industry and Information Technology of the Ministry of Industry and Information Technology, together with the Price Department of the National Development and Reform Commission and the Price Supervision and Inspection and Anti-Unfair Competition Bureau of the State Administration of Market Regulation, specially organized a symposium on the operation of the lithium industry and a symposium on the price increase of upstream materials for power batteries. Guarantee stable supply of work.
It is expected in the industry that as the regulatory authorities strike hard to crack down on unfair competition such as hoarding and price gouging, the supply environment for the raw material industry will gradually recover, and it is estimated that it is expected to return to the normal price range in the second half of this year.
