LG Energy Solution announced on April 3 that it has joined the automotive software open marketplace platform SDVerse, becoming the first battery manufacturer to participate. SDVerse is a B2B vehicle software platform founded by General Motors, Magna International, and Wipro. The platform provides an open ecosystem where automakers, global suppliers, and software developers can trade software solutions, supporting the transition toward software-defined vehicles (SDVs).

As production order fully resumed after the Chinese New Year, the sodium-ion battery industry chain saw a strong recovery in March. Production across the four major segments—cathode, anode, electrolyte, and battery cell—posted substantial growth both YoY and MoM, with industry prosperity rebounding markedly.

[Silicon Metal Price Center Remained in the Doldrums]: This week, the silicon metal market stayed weak, with the transaction center for some silicon metal grades edging lower. As of April 2, SMM east China prices were oxygen-blown #553 silicon at 9,000-9,200 yuan/mt, down 100 yuan/mt WoW; 441# silicon at 9,300-9,400 yuan/mt, down 50 yuan/mt WoW; and 3303# silicon at 10,100-10,300 yuan/mt, down 100 yuan/mt WoW. In the futures market, the most-traded silicon metal contract remained weak, with the SI2605 contract closing at 8,300 yuan/mt on Thursday, down 435 yuan/mt WoW. Spot declines were narrower than futures prices, and the advantage in supplier shipments shifted from silicon enterprises to trading firms engaging in both spot and futures market. During the week, market prices were under pressure, while procurement volume from some downstream users and export traders increased, with transactions in some grades remaining moderate.

SMM News, April 2: Dealers in Jiangxi reported no significant change for now in replacement demand in the automotive lead-acid battery market, with retailers only purchasing as needed and battery inventory at around one and a half months. In addition, amid the sharp recent rise in lead prices, talk of sales promotions in the battery wholesale market has weakened, and the mainstream model 6-QW-45Ah was quoted at 180-200 yuan/unit. Manufacturers in Zhejiang reported that domestic demand in the automotive lead-acid battery market was average. Coupled with impeded battery exports due to factors including geopolitical issues, tariffs, and differences in domestic and overseas costs, factories are currently producing based on sales, with the operating rate at around 50-60. Manufacturers in Hebei reported stable demand in the automotive lead-acid battery market, among which vehicle OEM supporting orders were moderate, and factory production lines were running at near full capacity. However, as the traditional consumption off-season in April approaches, subsequent production will be adjusted based on order conditions.

[SMM Lithium Battery Electrolyte Market Weekly Review: Electrolyte Prices Remained Temporarily Stable This Week (2026.3.30-4.2)] From March 30 to April 2, 2026, electrolyte prices remained temporarily stable. Subsequent price trends will still need to focus on changes in upstream raw material prices

This week, LCO market prices remained broadly stable overall. Affected by slight fluctuations in lithium carbonate prices, LCO prices also saw some corresponding adjustments, but the overall range remained limited. Demand side, the impact of chip shortages on the consumer electronics market exceeded previous market expectations. In addition, battery cell manufacturers currently had relatively ample raw material inventory, and their willingness to proactively restock remained weak in the short term, with no clear recovery in procurement pace. At present, market participants generally maintained a wait-and-see stance, and transactions were mainly driven by rigid-demand orders executed according to established plans. In the short term, LCO prices are expected to remain stable overall, and attention should be paid to changes in orders and procurement plans at various companies. Wang Cong 021-51,666,838 Ma Rui 021-51,595,780 Feng Disheng 021-51,666,714 Lv Yanlin 021-20,707,875 Zhou Zhicheng 021-51,666,711 Zhang Haohan 021-51,666,752 Wang Zihan 021-51,666,914 Wang Jie 021-51,595,902 Xu Yang 021-51,666,760 Yang Lianting 021-51,595,835 Wang Zhaoyu 021-51,666,827

[E-bike Market Update] It was reported that, in addition to Yadea, leading electric two-wheeler brands in China such as Ninebot, TAILG, and AIMA plan to raise the end-user selling prices of most of their car models starting April 1, with increases generally at 200-300 yuan per unit. According to e-bike dealers, they have already received notices from manufacturers that prices for some car models, including two-wheelers and three-wheelers, will be raised starting in April, with increases ranging from 30-300 yuan per unit.

[SMM Rare Earth Weekly Review: Rare Earth Prices Hold Up Well, and Market Inquiry Activity Increases] The Pr-Nd oxide market as a whole continued to hold up well. Under the impact of expectations of tighter supply and pronounced fluctuations in futures prices, upstream suppliers kept raising their offers, while low-priced cargoes tightened rapidly, pushing Pr-Nd oxide prices up to 722,000-728,000 yuan/mt.

Most second-quarter orders in the domestic EV market have been signed sequentially. While some manufacturers saw modest upward adjustments in payables, overall market changes remained limited.

On March 28, BYD released its 2025 annual report. According to the report, the company achieved operating revenue of 803.965 billion yuan in 2025, a year-on-year increase of 3.46%; and net profit attributable to shareholders of the listed company of 32.619 billion yuan, a year-on-year decrease of 18.97%. As of the end of the year, its total assets reached 883.730 billion yuan, an increase of 12.81% year-on-year; net assets attributable to shareholders of the listed company stood at 246.274 billion yuan, up 32.94% from the end of the previous year, with its overall asset strength steadily consolidated. In terms of energy storage business, its global energy storage system shipments exceeded 60GWh in 2025, ranking first among global energy storage system manufacturers.