Battery

China will strictly investigate and punish hoarding, price gouging and unfair competition in the upstream and downstream lithium battery industry to maintain market order, a government document said today.

Every RMB 100,000 increase in the price of lithium carbonate will have a 2 percentage point impact on Nio's gross margin, the company's CEO previously said.

BYD ranked second with 25.36 percent share, CALB and Gotion High-tech ranked third and fourth with 6.76 percent and 4.52 percent shares respectively.

China should launch a crackdown on the profiteering of some players and stop some companies from hoarding and speculating on raw materials, according to the chairman of Changan.

Following the completion of the financing, WeLion will further accelerate the construction of its production line and increase its R&D investment.

This marks Sunwoda's entry into Volkswagen's high-voltage battery supplier system, the company said.

CALB's plant in Portugal will be located near a local port and the company aims to make the project a world-leading zero-carbon plant.

The project, with a total investment of RMB 12 billion, has a planned annual capacity of 30 GWh.

This sent the company's market capitalization down to HK$41.1 billion, down HK$20.9 billion from about HK$62 billion at the opening of trading today.

Gotion will build a 20 GWh per year power cell project in Hefei, Anhui and a 10 GWh per year project in Liuzhou, Guangxi.