CPCA’s Cui Dongshu said lithium battery export prices have fallen sharply, from
142,900 yuan in 2024 to 112,300 yuan in 2025 and 105,000 yuan in 2026; China’s
July export average was 106,000 yuan, down 3% YoY. As vehicle production scales
up, PPI is rising and upstream lithium carbonate costs have increased; export
prices continue to fall while domestic battery prices have surged. Carmakers
that do not produce batteries lack pricing power, driving sustained and sizable
profit deterioration across the auto sector; mainstream OEMs face sharply rising
profitability pressure despite NEV policy support. Government efforts to curb
destructive competition may gradually improve upstream margins, but downstream
profit pressure is likely to remain high.
