China’s NEV output up 36.9% in November 2018 vs 2017

By Carrie Shi
Published: Thursday, 20 December 2018

China produced 173,000 new energy vehicles (NEVs) in November 2018, including pure electric vehicles (PEVs) and plug-in hybrids. This was up by 36.9% from November 2017, according to data released by the China Association of Automobile Manufacturers (CAAM).

Total production of NEVs included 135,000 PEVs, up by 23.6% from the corresponding month of 2017, and 38,000 plug-in hybrids (PEVs), up by 121.7%.

Sales of NEVs totaled 169,000 units in November 2018, up by 37.6% year on year. PEV sales rose by 30.3% to 138,000 units while sales of plug-in hybrids were up by 82.5% to 31,000 units from a year earlier.

Over January-November 2018, production of 1.05 million NEVs was up by 63.6% from the corresponding months of 2017, while total sales rose to 1.03 million units over the same 11 months, up by 68%.

In the same 11-month comparison, output of PEVs rose by 50.3% to 807,000 units and output of plug-in hybrids increased by 130.3% to 247,000 units. Sales of PEVs were up by 55.7% at 791,000 units and sales of plug-in hybrids totaled 239,000 units, up by 127.6%.

Lithium is widely used in battery materials for NEVs. Demand for the material is set to increase in the years to come.

Reduced buying after changes to China’s NEV subsidies policy on June 12 has weighed on the lithium market this year, pressuring prices lower although they have leveled off in the fourth quarter, with major buyers completing their purchases for the year.

The price of battery-grade lithium carbonate (min 99.5% Li2CO3) was 74,000-83,000 yuan per tonne ($10,755-12,065) on Thursday December 6, unchanged from the previous week, according to the market assessment by Fastmarkets.

China’s NEVs output from Jan-Nov 2017-2018 
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Source: China Association of Automobile Manufacturers (CAAM)