China’s NEV output up 36.9% in November 2018 vs 2017
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
|Source: China Association of Automobile Manufacturers