China EV sales, production continue to grow
Published: Monday, 18 September 2017
Electric vehicles sales and production in China continued to grow in the first eight months of 2017.
New energy vehicles sales and production in China continued
to grow by more than 30% year-on-year (y-o-y) between January
and August this year, the data from the China association of
automobile manufacturers (CAAM) showed on 17 September.
346,000 units of new energy vehicles were produced over the
first eight months of the year, up 33.5% y-o-y while sales also
increased by 30% to 320,000 units during the same period.
CAAM also announced on the ministry of industry and
information (MIIT) website that electric vehicles (EV)
production also jumped by 45% y-o-y to 284,000 units between
January-August, while sales increased to 260,000 units, up
In contrast, hybrid car sales declined nearly 3% y-o-y to
59,000 units while output also dropped 7.5% y-o-y to 62,000
units over the period.
Favourable government policy to promote EVs in China, EV
sales – a key driver in lithium-ion battery minerals
prices – is widely expected to increase during
Lithium carbonate and hydroxide prices tracked by Industrial
Minerals have increased substantially over the past two years
on the back of higher demand from the EV sector.
Lithium carbonate prices rose again last
week after Xin Guobin, the Chinese
vice-minister of industry and information technology, said in a
forum hosted in Tianjin that China is working on a timetable to
ban petrol and diesel cars.
For more information on the prices of raw materials
for batteries see IM's weekly Battery Price