Recently, due to the general rise in the cost of upstream materials and the strong demand in the downstream market, Tenpower will increase the prices of all products, according to the Shanghai Securities News.
In addition, several major domestic cylindrical lithium battery manufacturers are expanding production to meet the strong demand from increasing orders.
Western Securities believes that China's lithium battery shipments for electric vehicles in 2020 were 5.6GWh, and shipments in 2025 are expected to reach 11GWh.
Since October last year, the prices of upstream materials such as battery-grade lithium carbonate, electrolyte, separators, and cathode anode materials have risen.
With the start of battery price increases, the profitability of battery companies is expected to increase.