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According to data, the national production of lithium carbonate and lithium hydroxide from January to June was 298,000 tons and 175,000 tons respectively, and the price of battery-grade lithium carbonate, which has attracted much attention, has dropped sharply compared with previous years, with an average price of 103,000 yuan. Recent data shows that the price of battery-grade lithium carbonate has fallen below 80,000 yuan per ton. Compared with the price of nearly 300,000 yuan per ton in the same period of 2023, the decline is more than 68%.

Battery-grade lithium carbonate accounts for about 30% to 40% of the cost of power batteries. Its price drop will inevitably reduce the cost of power batteries, and the price of negative electrode materials, which account for about 18% of the cost of power batteries, has fallen even more sharply. According to incomplete statistics from GGII, there are currently more than 90 negative electrode companies in production, and the entire industry has experienced a serious oversupply. The industry's production capacity is about 4 million tons, but the average capacity utilization rate of the entire industry is less than 50%. In addition to lithium carbonate and negative electrode materials, the costs of electrolytes and diaphragms are also falling, which means that the manufacturing cost of power batteries will continue to fall in 2024.

So, will the price war in the new energy market start again starting from September?

First, for a pure electric car, the power battery accounts for 20%-40% of the total vehicle cost. If the battery cost is 80,000 yuan for a pure electric car worth 200,000 yuan, and the raw materials drop by 20%, the price will drop by 16,000 yuan. After deducting the manufacturer's profit, there is still room for a price reduction of 10,000 yuan for the whole vehicle.