Battery

CATL's share of the LFP market in March was 39.47 percent, higher than 38.88 percent for BYD, which was No. 1 in the LFP market in both January and February.

The "U" type structure allows the battery to reduce structural component resistance by 50 percent, achieve an energy density of 300 Wh/kg, and support fast charging beyond 6C, CALB said.

Half of the four major lithium producers in Yichun, Jiangxi province, nicknamed the "lithium capital of Asia," have opted to shut down production, according to local media.

A new research lab under the center will focus on discovering new functional and affordable materials.

Lithium prices continue to fall in China today, with the average price of industrial-grade lithium carbonate falling below RMB 200,000 per ton for the first time in the current down cycle.

For an EV with a 70-kWh pack, the cost of the battery is now RMB 12,300 - RMB 14,500 lower than when lithium carbonate prices were at their previous high, analysts say.

CATL's share in January-February was the same as in January, while BYD saw its share rise.

Lithium carbonate prices continue to decline, leading to a heavy wait-and-see mood among downstream customers, who are reluctant to place large orders.

Gotion and Edison Power have a planned sales target of 1 GWh in the first year of the partnership, rising to 2 GWh per year from the second year onwards.

Nio's management previously said they expect lithium carbonate prices to fall back to RMB 200,000 per ton this year, boosting gross margins back up.