India Proposes Zero Tariffs on Certain Quantities of US Auto Parts and Steel In trade negotiations with the US, India proposed zero tariffs on certain quantities of steel, auto parts, and pharmaceuticals on a reciprocal basis. (Cailian Press) Tariff Policy to Drive Up Prices of New and Used Cars in the US, Repair Costs Also to Increase The New York Times reported on the 3rd that the US's 25% tariff on imported auto parts could significantly raise the prices of new and used cars, as well as repair and insurance costs. The report stated that tariffs on imported auto parts would have a broad impact, as even cars made in the US often have engines, transmissions, batteries, and other components produced in other countries. Trump's tariff policy has already driven up new car prices, as consumers rushed to dealers to buy cars before the tariffs took effect. The tariff policy has also affected the used car market, as more people are seeking affordable alternatives to new cars, increasing demand and prices. Tariffs on auto parts are expected to raise repair costs and insurance premiums, as replacing auto parts will become more expensive. Rising car prices will exacerbate inflation. (Cailian Press) US Tariff Policy Disrupts Domestic Companies, Several US Firms Suspend Profit Forecasts According to CNN on May 4, due to the erratic nature of recent US tariff policies, several major global automakers have delayed or suspended profit forecasts. The report stated that automaker Stellantis Group released a report on April 30, indicating that it has suspended its 2025 profit growth forecast due to the impact of "changing" tariff policies. Previously, General Motors also issued a statement on April 29, withdrawing its 2025 profit growth expectations due to the potential impact of US tariff policies. (Cailian Press) BYD: NEV Sales Reach 1.3809 Million Units in the First Four Months, Up 46.98% YoY BYD announced on May 5 that its NEV sales in April 2025 reached 380,100 units, up 21.33% YoY. From January to April 2025, the company's cumulative NEV sales reached 1.3809 million units, up 46.98% YoY. (Cailian Press) Ford Motor Company Expects Tariffs to Cause $1.5 Billion Loss Ford Motor's adjusted EPS for Q1 was $0.14, while analysts expected a loss of $0.043 per share. Ford Blue's revenue for Q1 was $21 billion, compared to analysts' expectations of $20.08 billion. Ford Blue's EBIT for Q1 was $1.2 billion, compared to analysts' expectations of $1.22 billion. The company expects to suffer a $1.5 billion hit from tariffs this year and has suspended its 2025 performance forecast. (Cailian Press) "Labour Day Holiday" Sees Over 3 Million Applications for Car Trade-In Subsidies Nationwide According to the Ministry of Commerce, the national consumer market was vibrant and active during the 2025 Labour Day holiday. Data from the Ministry of Commerce's business big data monitoring showed that sales at key retail and catering enterprises nationwide increased by 6.3% YoY during the holiday. Trade-in programs were particularly popular. From the beginning of 2025 to 0:00 on May 5, applications for car trade-in subsidies exceeded 3 million. Consumers purchased 55.16 million units of 12 major categories of home appliances through trade-in programs and 41.67 million pieces of digital products such as mobile phones. In the first four days of the holiday, applications for car trade-in subsidies exceeded 60,000, driving new car sales of 8.8 billion yuan. Consumers purchased 3.56 million units of 12 major categories of home appliances, driving sales of 11.9 billion yuan, and 2.42 million pieces of digital products such as mobile phones, driving sales of 6.4 billion yuan. During the holiday, sales of home appliances, cars, and communication equipment at key retail enterprises monitored by the Ministry of Commerce increased by 15.5%, 13.7%, and 10.5% YoY, respectively. Sales of smart home products on key e-commerce platforms monitored by the Ministry of Commerce increased by over 20% YoY. Service consumption continued to heat up, with the catering and cultural tourism markets thriving. According to business big data monitoring, sales at key catering enterprises nationwide increased by 8.7% YoY during the holiday. (Cailian Press) Related Reading: SMM Analysis: Spot Prices of Refined Cobalt Strengthen SMM Analysis: Spot Prices of Cobalt Intermediate Products Rise SMM Analysis: Economic Viability of Refined Cobalt Production Declines, April Production Down MoM SMM Analysis: April Lithium Hydroxide Production Stable but Weak, May Expected to Remain Flat SMM Analysis: April Ternary Precursor Production Up 0.36% MoM SMM Analysis: April Ternary Cathode Material Production Up 7.38% MoM SMM Analysis: Between Advance and Retreat: The Realistic Compromise of US Auto Tariff Compensation Policy and the Challenges of Global Industry Chain Restructuring SMM Analysis: April Iron Phosphate Market Stable, Companies Under Pressure, Prices Difficult to Raise Lithium Drives the Green Revolution: Analyzing the Reshaping of the Energy Future in the Industry Chain [SMM Science] SMM Analysis: Driven by LCO Market Demand, April Co3O4 Production Significantly Increased MoM Q1 Auto Industry Starts with Double-Digit Growth in Production and Sales, What to Expect in Q2 Under Tariff Pressure? [SMM Special] SMM: Global ESS Market Demand May Reach Around 470GWh by 2030, How Will Each Market Perform? March Battery Material Import and Export Data Released: Spodumene and Lithium Carbonate Imports Show Mixed Performance [SMM Special] Spot Quotations for Refined Cobalt Continue to Rise, High Raw Material Costs Lead to Production Cuts at Some Smelters, This Cobalt Salt Price May Remain Firm [Weekly Observation] SMM Analysis: A Review of This Week's Scrap Spot Price Trends (April 21-27, 2025) SMM Manganese Ore Weekly Review: Market Purchasing Sluggish, Spot Prices Under Pressure SMM Analysis: Weekly Review of the Lithium Carbonate Market: Demand Falls Short of Incremental Expectations, Weekly Drop Exceeds 1,000 Yuan! SMM Analysis: Lithium Ore Weekly Market Review, April 21-25 SMM Analysis: Lithium Hydroxide Weekly Market Review, April 21-25 SMM Analysis: Recent Electrolyte Prices (April 21-24, 2025) SMM Analysis: ESS Battery Cell Weekly Price Trends, April 17-24 SMM Analysis: This Week, Co3O4 Spot Prices Slightly Declined SMM Analysis: This Week, Ternary Cathode Material Prices Further Pulled Back SMM Analysis: This Week, Ternary Precursor Prices Rebounded Slightly SMM Analysis: This Week, Refined Cobalt Spot Prices Rose Slightly SMM Analysis: This Week, Cobalt Intermediate Product Spot Prices Remained Stable SMM Analysis: This Week, Cobalt Chloride Prices Slightly Increased SMM Analysis: Cobalt Sulphate Spot Prices Temporarily Stable, Market Sentiment Cautious SMM Analysis: This Week, Power Battery Cell Prices Generally Stable, Ternary System Demand Under Pressure, Lacks Momentum SMM Analysis: This Week, Anode Material Prices Maintained a Stable Trend SMM Analysis: This Week, Anode Raw Material Coke Prices Declined to Varying Degrees SMM Analysis: Supply-Demand Pattern and Costs Show No Significant Fluctuations, Graphitisation Tolling Services Prices Stable This Week April 21-25 Iron Phosphate Market Situation [SMM Analysis] SMM Analysis: China's Unwrought Cobalt Exports and Export Prices Rose Significantly MoM in March 2025 SMM Analysis: March Cobalt Intermediate Product Imports Up Both YoY and MoM SMM Analysis: Fast Charging Technology Showdown: CATL vs. BYD SMM Analysis: Zimbabwe's Step Aside Lithium Mine Project Initiates Asset Liquidation: Focusing on Strategic Adjustments and Market Opportunities 2025 (10th) New Energy Industry Expo Concludes Successfully! See Industry Leaders Discuss Hot Topics! SMM: Global LFP Production Expected to Continue Rising, Subsequent Prices Still Largely Affected by Lithium Carbonate [New Energy Summit] SMM Analysis: March Domestic Spodumene Imports Totaled 534,500 mt SMM Data: March 2025 LiPF6 Import and Export Data March Iron Phosphate Material Import and Export Situation [SMM Analysis] SMM Analysis: March Ternary Cathode Import and Export Data Released, Imports Up 31% MoM, Exports Up 36% MoM SMM Analysis: March Market Recovery, Artificial Graphite Exports Increase SMM Analysis: March Ternary Precursor Export Situation Analysis

Cui Dongshu, Secretary General of the China Passenger Car Association (CPCA), stated that China's car imports from January to March 2025 totaled 95,000 units, down 39% YoY. Cui Dongshu, Secretary General of the CPCA, noted that China's car imports have been declining at an average annual rate of around 8% since 2017, when they stood at 1.24 million units, dropping to 800,000 units in 2023. In 2024, car imports fell to 700,000 units, down 12% YoY. From January to March 2025, car imports amounted to 95,000 units, a 39% YoY decline, marking a rare significant drop for the first quarter. In March alone, car imports were 39,000 units, down 27% YoY, showing a slight improvement in the rate of decline. Ganfeng Lithium announced that it has signed cooperation agreements with the Gongshu District Government of Hangzhou and Hangzhou Energy Group. Ganfeng Lithium (002460.SZ) announced that it has signed a "Framework Cooperation Agreement" and a "Strategic Cooperation Agreement" with the Gongshu District Government of Hangzhou and Hangzhou Energy Group, respectively. The three parties will collaborate on industrial cultivation and long-term development, establishing a mutually beneficial long-term strategic partnership. The company plans to invest in the construction of a high-specific-energy solid-state battery R&D and industrialisation base in Gongshu District, Hangzhou, focusing on electrification in the transportation sector, expansion of the new energy industry, broadening the energy supply chain, and comprehensive recycling of power batteries. (Cailian Press) Huayou Cobalt stated that after LG's withdrawal from the battery project, the Indonesian government hopes the company will lead or jointly promote the project with industry partners. In response to rumors that "Indonesia's Minister of Mining stated that the EV battery project will be taken over by China's Huayou Cobalt instead of South Korea's LG," Chen Xuehua, Chairman of Huayou Cobalt, responded at the company's 2024 performance briefing, "Huayou has been participating in this project as a member of the LG consortium for five years, and it is regrettable that LG did not continue. This project is significant, encompassing businesses from mining to precursors and batteries. Given Huayou's full industry advantages, the Indonesian government hopes Huayou will form new partnerships to jointly advance this project. However, it depends on the conditions ahead. If there is an opportunity, we will push the project forward, but not alone; it may require partners across the industry chain to jointly promote it." (Cailian Press) SK On has reached a battery supply agreement with Slate, an EV company backed by Bezos. SK On, the battery subsidiary of South Korea's SK Group, announced on Friday that it has been selected as the battery supplier for US EV startup Slate. According to the agreement, SK On will supply 20 GWh of batteries to Slate from 2026 to 2031, with the option to increase the quantity as production scales up. These batteries are sufficient to power approximately 300,000 mid-sized EVs. The financial terms of the contract were not disclosed, but industry estimates value it at around KRW 4 trillion ($2.78 billion). (Cailian Press) Ten departments aim for BEVs to become the mainstream of new vehicle sales by 2035. The Ministry of Transport and nine other departments issued guidelines on promoting the integration of transportation and energy development. The guidelines state that by 2035, the integration and interaction between transportation and the new energy system will be fully promoted, initially establishing a transportation energy system that is primarily based on clean and low-carbon energy consumption, supported by technological innovation, and guided by green, smart, and efficient practices. The proportion of electricity in the terminal energy consumption of the transportation industry will remain high, and green power developed based on transportation infrastructure will be primarily consumed locally. BEVs will become the mainstream of new vehicle sales, new energy heavy-duty trucks will be scaled up, and a green fuel supply system for transportation will be basically established. Click for details. The US has relaxed safety requirements for autonomous vehicles by lowering accident reporting standards. The US Department of Transportation announced the relaxation of some safety requirements for autonomous vehicles developed and manufactured by US companies to accelerate their deployment and enhance competitiveness. Under the new rules, if autonomous vehicles are used solely for research, demonstration, and other non-commercial purposes, US automakers can apply to skip certain safety regulations. Autonomous vehicles will no longer need to comply with some previous federal safety requirements for human drivers, such as the installation of rearview mirrors, to be allowed on the road. For accidents involving autonomous vehicles, the threshold for reporting property damage will be raised if the incident is not severe. Additionally, the Department of Transportation plans to establish national regulations on autonomous vehicle technology to replace the current state-by-state approach. (Cailian Press) Related reading: March battery material import and export data released: Spodumene and lithium carbonate imports show mixed trends. How did they perform? [SMM Special] Spot prices of refined cobalt continue to rise, high raw material costs lead to production cuts at some smelters, and this cobalt salt price may remain firm. [Weekly Review] [SMM Analysis] Weekly review of the lithium carbonate market: Demand falls short of incremental expectations, weekly decline exceeds 1,000 yuan! [SMM Analysis] Weekly market review of lithium ore, 4.21-4.25. [SMM Analysis] Weekly market review of lithium hydroxide, 4.21-4.25. [SMM Analysis] Recent electrolyte prices (2025.4.21-2025.4.24). [SMM Analysis] Weekly price trend analysis of ESS battery cells, 4.17-4.24. [SMM Analysis] Spot prices of Co3O4 slightly declined this week. [SMM Analysis] Ternary material prices further pulled back this week. [SMM Analysis] Ternary precursor prices rebounded slightly this week. [SMM Analysis] Spot prices of refined cobalt rose slightly this week. [SMM Analysis] Spot prices of cobalt intermediate products remained stable. [SMM Analysis] Cobalt chloride prices rose slightly this week. [SMM Analysis] Spot prices of cobalt sulphate remained stable, with strong market sentiment. [SMM Analysis] Power battery cell prices remained stable overall this week, with ternary system demand under pressure and weak upward momentum. [SMM Analysis] Negative electrode material prices remained stable this week. [SMM Analysis] Negative electrode raw material coke prices declined to varying degrees this week. [SMM Analysis] No significant fluctuations in supply-demand patterns and costs, graphitisation tolling prices remained stable this week. Market situation of LFP from April 21 to April 25. [SMM Analysis] [SMM Analysis] China's exports of unwrought cobalt and export prices rose significantly MoM in March 2025. [SMM Analysis] Imports of cobalt intermediate products increased both YoY and MoM in March. [SMM Analysis] Competition in ultra-fast charging technology: CATL vs. BYD. [SMM Analysis] Zimbabwe's Step Aside lithium mine project initiates asset monetisation: Focusing on strategic adjustments and market opportunities. The 2025 (10th) New Energy Industry Expo concluded successfully! See industry leaders discuss hot topics! SMM: Global LFP production is expected to continue rising, with prices still heavily influenced by lithium carbonate. [New Energy Summit] [SMM Analysis] China imported 534,500 mt of spodumene in March. [SMM Data] LiPF6 import and export data for March 2025. LFP material import and export situation in March. [SMM Analysis] [SMM Analysis] Ternary cathode import and export volumes in March: Imports up 31% MoM, exports up 36% MoM. [SMM Analysis] Market recovery in March led to increased exports of artificial graphite. [SMM Analysis] Analysis of ternary precursor exports in March.

【Ministry of Commerce on China-EU Auto Negotiations: China Willing to Resolve Trade Frictions Through Dialogue】 The Ministry of Commerce held a regular press conference on the afternoon of April 24. Reporter: China and the EU previously agreed to immediately launch negotiations on EV price commitments and discuss investment cooperation in the auto industry. Can the Ministry of Commerce provide an update on the current progress of these negotiations? Spokesperson He Yadong: Following the video meeting between Minister Wang Wentao and EU Trade and Economic Security Commissioner Šefčovič on April 8, the technical teams from both sides have maintained close communication on EV price commitments and trade investment cooperation, and are accelerating the negotiation process. China is willing to work with the EU to properly handle trade frictions through dialogue and consultation, deepen bilateral practical cooperation, and inject more certainty and positive energy into the Chinese, European, and global economies. 》Click for details 【GFEX Adjusts Price Limits and Margin Requirements for Futures Contracts During 2025 Labor Day Holiday】 Starting from the settlement on April 29, 2025 (Tuesday), the price limit for silicon metal futures contracts will be adjusted to 8%, with speculative trading margin requirements set at 10% and hedging margin requirements at 9%. The price limit for polysilicon futures contracts will be adjusted to 9%, with speculative trading margin requirements set at 11% and hedging margin requirements at 10%. The price limit for lithium carbonate futures contracts will be adjusted to 10%, with speculative trading margin requirements set at 12% and hedging margin requirements at 11%. (Cailian Press) 》Click for details 【Tesla’s Q1 Sales in Europe Plunge 45%】 Data released by the European Automobile Manufacturers Association on the 24th shows that new car registrations in the EU fell 1.9% YoY in the first three months of this year. The market share of EVs and hybrid vehicles continued to expand, while the share of traditional internal combustion engine vehicles shrank significantly. Data shows that gasoline car registrations fell 20.6% YoY to 779,000 units, accounting for 28.7% of the market. Diesel car registrations dropped 27.1%, with market share falling to 9.5%. Pure EV registrations rose 23.9% to 413,000 units, accounting for 15.2% of the market, up from 12% in the same period last year. Data shows that Tesla’s new car sales in Europe fell 45% YoY in Q1. (Cailian Press) 【China’s First Industry Standard for Safe Maritime Transport of Lithium Batteries to Take Effect in May】 Li Ying, spokesperson for the Ministry of Transport, stated at a press conference that the "Technical Requirements for the Safe Transport of Lithium Batteries by Ships" will take effect on May 1. The standard, consisting of 10 parts, 5 informative appendices, and 2 normative appendices, is China’s first industry standard for the safe maritime transport of lithium batteries. Compiled under the leadership of the Maritime Safety Administration of the Ministry of Transport, the standard integrates input from producers, testing agencies, port and shipping companies, and incorporates China’s experience and practices in lithium battery transport. It addresses gaps in existing international and domestic technical standards, ensuring safe and compliant transport of lithium battery products while resolving challenges in transport classification, labeling, and packaging for relevant production and transport companies. This effectively promotes the international trade and domestic safe circulation of China’s lithium battery products, enhancing the country’s competitiveness in the global new energy sector. (Cailian Press) 【Jinyang Co., Ltd. to Invest Up to $90 Million in Malaysian Lithium Battery Precision Component Project】 Jinyang Co., Ltd. (301210.SZ) announced that the company plans to invest in the construction of a lithium battery precision component project in Malaysia, with a total investment not exceeding $90 million. The funding will come from the company’s own funds or self-raised funds. The project will be implemented by a project company established in Malaysia through the company’s wholly-owned subsidiary in Singapore. The construction period is approximately 36 months. The company’s investment in a new production base in Malaysia aims to meet overseas market demand, optimize capacity layout, and enhance overall competitiveness. However, the project faces risks such as approval uncertainties, investment scale and progress uncertainties, overseas market competition, and internal control management. (Cailian Press) 【EVE Energy Reports Q1 Revenue and Non-GAAP Net Profit Up 37.34% and 16.60% YoY, Power Battery Business Expected to Continue Improving】 EVE Energy (300014.SZ) released its Q1 2025 report. Facing a deep adjustment in the new energy industry, the company achieved revenue of 12.796 billion yuan, up 37.34% YoY, demonstrating its lean management and resilience as an industry leader. Non-GAAP net profit attributable to the parent company was 817 million yuan, up 16.60% YoY. The company’s ESS and power battery shipments continued to grow rapidly in Q1. Benefiting from the volume increase of new energy vehicle models, breakthroughs in the plug-in hybrid market, and stable growth in commercial vehicle installations, EVE Energy’s power battery shipments reached 10.17 GWh in Q1, up 57.58% YoY, significantly outpacing the industry average. Meanwhile, the company is actively expanding into emerging markets such as eVTOL, drones, and robots, with some projects having completed the delivery of the first batch of samples. Overseas, the small cylindrical battery factory in Malaysia has been completed and put into production, ESS projects are expected to start mass production next year, and the Hungary base has begun construction, with the internationalization strategy expected to open a second growth curve. (Cailian Press) Related Reading: 【SMM Analysis】Weekly Review of Lithium Carbonate Market: Demand Falls Short of Expectations, Weekly Drop Exceeds 1,000 Yuan! 【SMM Analysis】Weekly Lithium Ore Market Review, 4.21-4.25 【SMM Analysis】Weekly Lithium Hydroxide Market Review, 4.21-4.25 【SMM Analysis】Recent Electrolyte Price Trends, 4.21-4.24, 2025 【SMM Analysis】ESS Battery Cell Price Trends, 4.17-4.24 【SMM Analysis】Spot Prices of Cobalt Tetroxide Slightly Decline This Week 【SMM Analysis】Ternary Cathode Material Prices Further Pull Back This Week 【SMM Analysis】Ternary Precursor Prices Rebound Slightly This Week 【SMM Analysis】Spot Prices of Refined Cobalt Rise Slightly 【SMM Analysis】Spot Prices of Cobalt Intermediate Products Remain Stable 【SMM Analysis】Cobalt Chloride Prices Rise Slightly This Week 【SMM Analysis】Spot Prices of Cobalt Sulphate Remain Stable, Market Sentiment Cautious 【SMM Analysis】Power Battery Cell Prices Remain Stable Overall, Ternary System Demand Under Pressure 【SMM Analysis】Negative Electrode Material Prices Remain Stable This Week 【SMM Analysis】Negative Electrode Raw Material Coke Prices Decline to Varying Degrees This Week 【SMM Analysis】Supply-Demand Pattern and Costs Remain Stable, Graphitisation Tolling Prices Unchanged This Week 【SMM Analysis】LFP Market Situation, 4.21-4.25 【SMM Analysis】China’s Unwrought Cobalt Exports and Export Prices Rise Significantly MoM in March 2025 【SMM Analysis】Cobalt Intermediate Product Imports Rise YoY and MoM in March 【SMM Analysis】Ultra-Fast Charging Technology Showdown: CATL vs. BYD 【SMM Analysis】Zimbabwe’s Step Aside Lithium Mine Project Initiates Asset Liquidation: Focus on Strategic Adjustments and Market Opportunities 2025 (10th) New Energy Industry Expo Concludes Successfully! Industry Leaders Gather to Discuss Hot Topics! SMM: Global LFP Production Expected to Continue Rising, Prices Still Largely Affected by Lithium Carbonate【New Energy Summit】 【SMM Analysis】China’s Spodumene Imports Total 534,500 mt in March 【SMM Data】LiPF6 Import and Export Data for March 2025 【SMM Analysis】LFP Material Import and Export Situation in March 【SMM Analysis】Ternary Cathode Imports and Exports in March: Imports Up 31% MoM, Exports Up 36% MoM 【SMM Analysis】Market Recovery in March, Artificial Graphite Exports Increase 【SMM Analysis】Analysis of Ternary Precursor Exports in March

Tianqi Lithium: Q1 Net Profit Expected to Turn Around to 82-123 Million Yuan, YoY Tianqi Lithium (002466.SZ) announced that it expects net profit attributable to shareholders of the listed company in Q1 2025 to be between 82 million and 123 million yuan, compared to a loss of 3.897 billion yuan in the same period last year. With the gradual intake of newly purchased lithium concentrates and the digestion of inventory lithium concentrates, the cost of chemical-grade lithium concentrates consumed in the production costs of the company's production sites has largely aligned with the latest purchase prices. Meanwhile, driven by the ramp-up of self-owned plants and technological transformation, the company's production and sales of lithium compounds and derivatives achieved YoY growth in Q1 2025. (Cailian Press) Six Major US Auto Industry Groups Jointly Oppose Tariff Hike on Auto Parts Six major US auto industry groups, representing auto dealers, suppliers, and nearly all major automakers, jointly sent a rare letter to the US Treasury Secretary, Commerce Secretary, and US Trade Representative, urging the federal government not to impose additional tariffs on imported auto parts. The letter stated that tariff hikes on auto parts would disrupt the global auto supply chain, trigger chain reactions, lead to higher car prices, lower sales, and make auto after-sales services and repairs more expensive and unpredictable. (Cailian Press) Geely Holding Unifies Its Battery Brands Under "Shen Dun Gold Brick," Models to Gradually Adopt Self-Produced Cells Cailian Press learned that Geely Holding Group recently completed the strategic integration of its battery business, officially establishing a new battery industry group, Zhejiang Jiyao Tongxing Energy Technology Co., Ltd. (referred to as "Jiyao Tongxing"). The company unified its original Gold Brick Battery and Shen Dun Short Blade Battery into the Shen Dun Gold Brick Battery brand, integrating Geely's self-developed and self-produced battery safety systems with cell products. In the future, Geely Holding's high-end luxury brands, such as Zeekr, will fully adopt the Gold Brick cells, and strategic models across Geely's brands will also be equipped with Gold Brick cells. Note: Tianyancha data shows that Jiyao Tongxing was established on January 26 this year, with actual control by Geely Group founder Li Shufu. (Cailian Press) CATL Collaborates with Five Automakers to Launch 10 New Chocolate Battery Swap Models At the 2025 Shanghai Auto Show, CATL's Chocolate Battery Swap, in collaboration with FAW, Changan, BAIC, Chery, and GAC, launched 10 new Chocolate Battery Swap models, with nine set to debut this year. GAC Group, as the first automaker to fully cooperate with the Chocolate Battery Swap ecosystem, will introduce the Chocolate standard in more of its models and collaborate with CATL in areas such as battery swap station construction, battery banking, marketing of battery swap models, and cascade utilization of retired batteries. (Cailian Press) Honda to Jointly Develop LFP Batteries with CATL Honda announced that it will collaborate with CATL to develop an efficient platform for directly placing batteries within the auto body. The two companies will jointly develop LFP batteries, which are planned to be adopted in the upcoming third-generation YE series models. (Cailian Press) Yicheng New Energy Plans to Acquire 80% Stake in Energy Storage Company and Increase Capital Yicheng New Energy (300080.SZ) announced that it plans to acquire an 80% stake in Henan Pingmei Shenma Energy Storage Co., Ltd. (referred to as "Energy Storage Company") held by its controlling shareholder, China Pingmei Shenma Group. After the acquisition, all shareholders of the Energy Storage Company will proportionally increase capital by 125 million yuan, with Yicheng New Energy contributing 100 million yuan. Following the acquisition and capital increase, the registered capital of the Energy Storage Company will increase from 30 million yuan to 155 million yuan, and Yicheng New Energy will hold an 80% stake, making the Energy Storage Company its subsidiary. The acquisition price for the 80% stake is 35.497 million yuan. The Energy Storage Company primarily produces and sells intelligent lithium-ion battery energy storage systems. After the acquisition, the company will achieve a combination of long-duration and short-duration energy storage, which will help strengthen and expand its main business. (Cailian Press) Related Reading: SMM Analysis: China's Unwrought Cobalt Exports and Average Export Price Surged MoM in March 2025 SMM Analysis: Cobalt Intermediate Product Imports Rose YoY and MoM in March SMM Analysis: Supercharging Technology Showdown: CATL vs. BYD SMM Analysis: Zimbabwe's Step Aside Lithium Mine Project Initiates Asset Liquidation: Focusing on Strategic Adjustments and Market Opportunities The 2025 (10th) New Energy Industry Expo Concluded Successfully! Industry Leaders Gather to Discuss Hot Topics! SMM: Global LFP Production Expected to Continue Rising, Prices Still Largely Affected by Lithium Carbonate [New Energy Summit] SMM Analysis: China Imported 534,500 mt of Spodumene in March SMM Data: LiPF6 Import and Export Data for March 2025 LFP Material Import and Export Situation in March [SMM Analysis] SMM Analysis: Ternary Cathode Imports and Exports in March: Imports Up 31% MoM, Exports Up 36% MoM SMM Analysis: Market Recovery in March, Artificial Graphite Exports Increased SMM Analysis: Ternary Precursor Export Situation in March SMM Analysis: Overseas Lithium News, 4.14-4.18 SMM Analysis: Lithium Carbonate Market Weekly Review: Prices Stabilized, Buyers and Sellers Remain Deadlocked SMM Analysis: Lithium Hydroxide Weekly Market, 4.14-4.18 SMM Analysis: Ternary Material Prices Pulled Back Slightly This Week SMM Analysis: Ternary Precursor Prices Corrected Slightly This Week SMM Analysis: Dry Separator Prices Expected to Bottom Out SMM Analysis: Negative Electrode Material Prices Remained Stable This Week LFP Material Market Weekly Update [SMM Analysis] SMM Analysis: ESS Cell Price Trends, 4.11-4.17 SMM Analysis: Dry Separator Shows Upward Trend This Week SMM Analysis: Power Cell Prices Mostly Stable with Minor Fluctuations SMM Analysis: Lithium Ore Weekly Market, 4.14-4.18 SMM Analysis: Graphitisation Tolling Services Prices Remained Stagnant This Week SMM Analysis: Recent Electrolyte Prices, 2025.4.14-2025.4.17 SMM Analysis: Petroleum Coke Prices Held Steady, Needle Coke Prices Showed Slight Downward Trend This Week SMM Analysis: A Review of Waste Battery for Cascade Utilization Price Trends This Week, 2025.04.14-2025.04.17

The 2025 (10th) New Energy Industry Expo Successfully Concluded! Industry Leaders Gathered to Discuss Hot Topics! [CPCA: AEB Installation Rate in the Passenger NEV Market Reached 62.9%] The China Passenger Car Association (CPCA) released the February 2025 Intelligent Connected Vehicle Insight Report. The report indicated that the overall AEB installation rate performed well from January to February, with the overall installation rate for passenger vehicles reaching 56.5%, and the proportion of passenger vehicles priced at 160,000-240,000 yuan reaching 70.2%. There is still room for growth. The AEB installation rate in the passenger NEV market has reached 62.9%. On one hand, the installation rate is growing rapidly; on the other hand, the strict triggering conditions of the AEB function may lead to its failure, as recent incidents involving some companies have highlighted certain defects in the current AEB function. The MIIT recently required automakers to strictly prohibit exaggerated claims about intelligent driving in a meeting, marking the official entry of the intelligent driving industry into an era of "strong regulation." [Suppliers "In Trouble": US Auto Industry Writes to Trump Administration] Six organizations representing the US auto industry urged the Trump administration in a letter to government officials not to impose a 25% tariff on auto parts set to take effect on May 3, stating that it could jeopardize US auto production. The letter pointed out that many auto suppliers are already "in trouble" and cannot afford additional cost increases, which could lead to broader industry issues. The letter was signed by leaders of the Alliance for Automotive Innovation, the American International Automobile Dealers Association, the Motor & Equipment Manufacturers Association, the Original Equipment Suppliers Association, the National Automobile Dealers Association, and the American Automotive Policy Council, and was addressed to US Treasury Secretary Scott Bessent, US Commerce Secretary Howard Lutnick, and US Trade Representative Ambassador Jamison Greer. [South Korea’s Industry Minister: Will Discuss Trade Imbalance with US Counterparts] South Korea’s Industry Minister stated that he will discuss trade imbalance issues with US counterparts; will make every effort to quickly find a solution to the US auto tariff issue; defense costs may become part of the discussion, and they are prepared for it. [NIO CEO: Pure EVs Are the Ultimate Solution] NIO’s CEO stated that he is confident that pure EVs are the ultimate solution as battery costs decline and charging and battery swap infrastructure expands. [US ITC Issues Final Determination on Section 337 Investigation of Rechargeable Batteries and Components] The US International Trade Commission (ITC) announced on April 21 that it issued a final determination on the Section 337 investigation of certain rechargeable batteries and components (Investigation No. 337-TA-1421): it will not review the initial determination (No. 19) made by the administrative law judge on March 21, 2025, and based on the settlement, the investigation against the listed respondents, Dragonfly Energy Corp. of Reno, NV, and Dragonfly Energy Holdings Corp. of Reno, NV, is terminated. (Cailian Press) [CPCA: Tariff Hike Will Further Accelerate Localization of Auto Chips] The China Passenger Car Association (CPCA) released the February 2025 Intelligent Connected Vehicle Insight Report, which pointed out that after the chip shortage in 2021, many domestic automakers have started using self-developed chip products. Currently, the localization rate of all chips in China is roughly 20%, with state-owned automakers achieving a higher localization rate. The tariff hike will further accelerate the localization process of auto chips, with analog chips being replaced faster, while digital chips are still dominated by foreign companies. Related Reading: SMM: Global LFP Production Expected to Continue Rising, Prices Still Largely Affected by Lithium Carbonate [New Energy Summit] [SMM Analysis] China Imported 534,500 mt of Spodumene in March [SMM Data] LiPF6 Import and Export Data for March 2025 LFP Material Import and Export Situation in March [SMM Analysis] [SMM Analysis] Ternary Cathode Import and Export Volume in March: Imports Up 31% MoM, Exports Up 36% MoM [SMM Analysis] Market Recovery in March, Artificial Graphite Exports Increased [SMM Analysis] Ternary Precursor Export Situation in March [SMM Analysis] Overseas Lithium News, April 14-18 [SMM Analysis] Weekly Review of the Lithium Carbonate Market: Prices Stabilized, Buyers and Sellers Remain Deadlocked [SMM Analysis] Lithium Hydroxide Weekly Market, April 14-18 [SMM Analysis] Ternary Material Prices Dropped Slightly This Week [SMM Analysis] Ternary Precursor Prices Slightly Corrected This Week [SMM Analysis] Dry Separator Prices Expected to Bottom Out [SMM Analysis] Anode Material Prices Remained Stable This Week LFP Material Market Weekly Update [SMM Analysis] [SMM Analysis] ESS Battery Cell Weekly Price Trend Analysis, April 11-17 [SMM Analysis] Dry Separator Showed an Upward Trend This Week [SMM Analysis] Power Battery Cell Prices Remained Stable with Slight Fluctuations [SMM Analysis] Lithium Mine Weekly Market, April 14-18 [SMM Analysis] Graphitisation Tolling Services Prices Remained Deadlocked This Week [SMM Analysis] Recent Electrolyte Prices (April 14-17, 2025) [SMM Analysis] Petroleum Coke Prices Held Steady This Week, Needle Coke Prices Showed a Slight Downward Trend [SMM Analysis] A Review of Waste Battery for Cascade Utilization Price Trends This Week (April 14-17, 2025)

The 2025 (10th) New Energy Industry Expo Concluded Successfully! Industry Leaders Gathered to Discuss Hot Topics! 【Dazhong Mining: The Jiada Lithium Mine in Sichuan Will Achieve a Certain Scale of By-product Raw Ore Sales in 2025】 Dazhong Mining stated at its 2024 performance meeting that the company is focusing on increasing reserves and production this year, with priority given to the expansion and technological transformation of the two mines under Jinsheng Mining. Meanwhile, the company is fully promoting the infrastructure construction of the Jizhushan Lithium Mine in Hunan and will prioritize the transition to mining in the first mining area of the Jiada Lithium Mine in Sichuan, aiming to achieve a certain scale of by-product raw ore sales in 2025. In terms of capital expenditure planning, the construction of the Jizhushan Lithium Mine in Hunan, the Jiada Lithium Mine in Sichuan, and the technological transformation and expansion projects of the Zhouyoufang Iron Mine, Chongxinji Iron Mine, and Guyang Hejiao Iron Mine will be the core areas of investment. 【Nuodex: Signed a Strategic Cooperation Framework Agreement with SVOLT Energy】 Nuodex (600110.SH) announced that its wholly-owned subsidiary, Baijiada, has signed a Strategic Cooperation Framework Agreement with SVOLT Energy. The agreement stipulates that SVOLT Energy is expected to purchase 50,000 mt of lithium battery copper foil from Baijiada over the next three years, with specific quantities to be determined based on market demand and project progress. 【South Korea's LG Energy Withdraws from EV Battery Investment Project in Indonesia】 South Korea's LG Energy Solution announced on Monday that it has officially withdrawn from a $14.2 billion EV battery manufacturing project in Indonesia. At the end of 2020, LG Energy Solution (LGES) signed an agreement with the Indonesian government for the so-called "Indonesia Mega Project Package," which covered multiple investments in the EV battery supply chain. 【Li-Wang: Collaborates with Tsinghua University on Solid-State Battery R&D】 Li-Wang released its investor relations activity record, stating that since its collaboration with Tsinghua University's Shenzhen International Graduate School in 2021, both parties have actively explored the field of solid-state battery technology R&D. Currently, some samples of the solid-state electrolyte technology route have entered the performance verification stage. 【CITIC Securities: Shanghai Auto Show to Open Soon, Solid-State Battery Industry and Policy Progress to Stimulate Material Sector】 CITIC Securities' research report indicates that the upcoming Shanghai Auto Show is expected to strongly catalyze the solid-state battery industry, with industry progress accelerating. CITIC Securities predicts that policy support signals will further strengthen. In 2025, high-end applications of solid-state batteries such as humanoid robots, eVTOL, and consumer electronics are expected to further expand, driving the solid-state battery material industry into a period of rapid development. Solid-state electrolytes are the core incremental factor, and it is recommended to focus on leading material sector progress and low-position stocks with close industry linkages. 【CATL Launches Second-Generation Shenxing Ultra-Fast Charging Battery, 5-Minute Charge for Over 520 km Range】 CATL released the second-generation Shenxing ultra-fast charging battery. According to reports, this LFP battery offers a range of 800 km, with a peak charge rate close to 12C and peak charging power exceeding 1.3 MW, enabling "5-minute charging for over 520 km range." (Cailian Press) Related Readings: 【SMM Analysis】March Domestic Spodumene Imports Totaled 534,500 mt 【SMM Data】March 2025 LiPF6 Import and Export Data March LFP Material Import and Export Situation【SMM Analysis】 【SMM Analysis】March Ternary Cathode Import and Export Volume Released, Imports Up 31% MoM, Exports Up 36% MoM 【SMM Analysis】March Market Recovery, Artificial Graphite Exports Increased 【SMM Analysis】March Ternary Precursor Export Situation Analysis 【SMM Analysis】Overseas Lithium News, 4.14-4.18 【SMM Analysis】Weekly Review of the Lithium Carbonate Market: Prices Stabilized, Buyers and Sellers Remain Deadlocked 【SMM Analysis】Lithium Hydroxide Weekly Market, 4.14-4.18 【SMM Analysis】Ternary Material Prices Pulled Back Slightly This Week 【SMM Analysis】Ternary Precursor Prices Slightly Corrected This Week 【SMM Analysis】Dry Separator Prices Expected to Bottom Out 【SMM Analysis】Negative Electrode Material Prices Remained Stable This Week LFP Material Market Weekly Update【SMM Analysis】 【SMM Analysis】ESS Battery Cell Weekly Price Trend Analysis, 4.11-4.17 【SMM Analysis】Dry Separator Prices Showed an Upward Trend This Week 【SMM Analysis】Power Battery Cell Prices Remained Stable with Slight Fluctuations 【SMM Analysis】Lithium Mine Weekly Market, 4.14-4.18 【SMM Analysis】Graphitisation Tolling Service Prices Remained Stagnant This Week 【SMM Analysis】Recent Electrolyte Prices (2025.4.14-2025.4.17) 【SMM Analysis】Petroleum Coke Prices Held Steady This Week, Needle Coke Prices Showed a Slight Downward Trend 【SMM Analysis】A Review of This Week's Waste Battery for Cascade Utilization Price Trends (2025.04.14-2025.04.17)

【Live】China's New Energy Mineral Demand and Outlook, Global Cobalt Market Dynamics, Interpretation of the New Mineral Resources Law 【MIIT: Organizing Industrial Energy Conservation and Carbon Reduction Diagnosis Services for 2025】 The General Office of the Ministry of Industry and Information Technology issued a notice on organizing industrial energy conservation and carbon reduction diagnosis services for 2025, focusing on industries such as steel, ethylene, synthetic ammonia, calcium carbide, aluminum, polysilicon, lithium batteries, cement, ceramics, flat glass, and electronic appliances, as well as information infrastructure like data centers and communication base stations. Energy conservation and carbon reduction service institutions are to provide public welfare diagnosis services for enterprises, identifying weaknesses in production processes, key product equipment, energy structure and system optimization, and energy and carbon management system construction. Based on this, they should propose technical, equipment, and management measures for energy conservation and carbon reduction, providing replicable and easily promotable system solutions for enterprises in different industries and development stages. Service institutions are encouraged to provide continuous follow-up services to enterprises that have received industrial energy conservation diagnosis services since the 14th Five-Year Plan, promoting the implementation of energy-saving measures. They are also encouraged to conduct product carbon footprint accounting based on relevant national, industry, and recommended group standards (available on the MIIT website). 【Significantly Extending the Lifespan of Next-Generation Lithium Batteries: Scientists Discover New Method】 According to Caixin, a research team from the Chinese Academy of Sciences has discovered that heating the lithium-rich manganese-based cathode material of next-generation lithium batteries can help restore voltage in aged batteries, effectively "rejuvenating" them. This discovery provides a new approach to developing smarter and more durable next-generation lithium batteries. The research was conducted by a team from the Ningbo Institute of Materials Technology and Engineering, Chinese Academy of Sciences, and the findings have been published online in the international academic journal *Nature*. 【Tinci Materials: US LiPF6 Project in Preliminary Preparation Phase】 Tinci Materials (002709.SZ) released an investor relations activity record, stating that in January 2025, the company signed a cooperation agreement with Honeywell to establish a joint venture aimed at accelerating the large-scale production of electrolytes and LiPF6 in the North American market. Both parties will jointly invest in the construction of electrolyte and LiPF6 projects, which are currently in the preliminary preparation phase. Tinci Texas plans to build an annual 200,000 mt electrolyte project, with land acquisition completed and factory design and related environmental assessment procedures underway. 【NBS: China's High-Quality Development Actively Advancing】 Sheng Laiyun, Deputy Director of the National Bureau of Statistics (NBS), stated at a press conference of the State Council Information Office that China's high-quality development is actively advancing. First, innovation continues to progress, with new quality productive forces being cultivated and expanded. In Q1, regions increased support for innovation, particularly driving the development of high-tech industries through the application of artificial intelligence and quantum communication. Second, coordinated development continues to improve, with industrial and demand structures steadily enhancing. Industries are transforming towards high-end, intelligent, and green development. Manufacturing investment, especially in high-tech industries, has increased. Third, high-level openness continues to advance, with new trade patterns forming rapidly. Fourth, green development is steadily progressing, with industries represented by NEVs, lithium batteries, and PV maintaining rapid growth. The proportion of non-fossil energy usage has increased. Fifth, new progress has been made in improving people's livelihoods and ensuring safe development. 【Tesla's Q1 EV Market Share in California Drops to 43.9%】 Data shows that Tesla's Q1 registrations in California fell 15.1% YoY, with its EV market share in the state dropping from 55.5% YoY to 43.9%. 【US Retail Sales Post Largest Increase in Two Years, Driven by Car Purchase Boom】 US retail sales surged significantly in March due to a spike in purchases of cars, electronics, and other goods, indicating consumers were rushing to buy before tariffs took effect. Data released by the US Department of Commerce on Wednesday showed that unadjusted retail sales rose 1.4%, the largest increase in over two years. Excluding cars, retail sales grew 0.5%. This growth suggests consumers were buying cars ahead of President Donald Trump's 25% tariff on vehicles, with tariffs on parts set to take effect no later than May 3. This is expected to drive car prices up by thousands of dollars, though Trump is considering possible temporary exemptions. Car sales posted the largest increase in two years, with broad-based growth across 11 of the 13 categories reported. Related Reading: 【SMM Analysis】Review of This Week's Scrap Spot Price Trends (2025.4.7-2025.4.11) 【SMM Analysis】Overseas Lithium News (2025.4.7-2025.4.11) 【SMM Analysis】Update on Bougouni Lithium Mine Project in Mali: Production Steadily Ramping Up, Mining Rights Transfer Progressing Orderly Multiple Positive Factors Boost Auto Parts Sector, Up Nearly 6% in Intraday Trading: Do US Tariffs Offer More Possibilities for Chinese EVs? 【SMM Analysis】Calculation of US Tariff Rates on NEV Exports to Major Global Regions After "Reciprocal Tariffs" Implementation 【SMM Analysis】ESS Battery Cell Weekly Price Trends (2025.4.3-2025.4.10) 【SMM Analysis】This Week's Anode Material Prices Remain Stable 【SMM Analysis】This Week's Separator Prices Remain Stable 【SMM Analysis】This Week's Ternary Material Prices Slightly Corrected 【SMM Analysis】This Week's Ternary Precursor Prices Slightly Corrected, Expected to Remain Firm in the Short Term 【SMM Analysis】Spot Prices of Refined Cobalt Decline 【SMM Analysis】Spot Prices of Cobalt Intermediate Products Hold Up Well 【SMM Analysis】Review of This Week's Waste Battery for Cascade Utilization Price Trends (2025.4.7-2025.4.10) 【SMM Analysis】Recent Electrolyte Prices (2025.4.7-2025.4.10) 【SMM Analysis】This Week's Cobalt Chloride Prices Rise Slightly 【SMM Analysis】Spot Prices of Cobalt Sulphate Correct, Market Sentiment Cautious 【SMM Analysis】Weekly Review of Lithium Carbonate Market: Macro Headwinds Weigh Down, Price Center Drops Nearly 1,000 Yuan 【SMM Analysis】This Week's Power Battery Cell Prices Show Divergence, Domestic Demand Boosts Production Schedule 【SMM Analysis】LFP Material Market Situation in Early April 【SMM Analysis】Impact of US "Reciprocal Tariffs" on China's Power Battery Industry 【SMM Analysis】Supported by Costs, This Week's Graphitisation Outsourcing Prices Remain Stable 【SMM Analysis】This Week's Petroleum Coke Prices Rise, Needle Coke Prices Slightly Decline 【SMM Analysis】Chinese Automakers Break Through in Southeast Asia: The New Energy Industry Transformation Behind the Bangkok Auto Show 【SMM Analysis】This Week's Co3O4 Prices Show a Slight Downward Trend Spodumene Imports Reach 1.16 Million mt in the First Two Months, Lithium Hydroxide Exports Hit New Low! 【SMM Special】 US Auto Tariff Policy Officially Implemented! Mixed Reactions from Countries, Some Automakers Signal Price Hikes! 【SMM Hot Topic】 Cobalt Chloride Rises for 4 Days! Mixed Price Trends in Cobalt Products, Ban Drives Significant Growth in Cobalt Salt Production 【Weekly Observation】 【SMM Analysis】Powerful Collaboration: Australia's Lithium Mining Exploration Giant Emerges 【SMM Analysis】Weekly Summary of LFP Market 【SMM Analysis】Recent Electrolyte Prices (2025.3.31-2025.4.3) 【SMM Analysis】Review of This Week's Waste Battery for Cascade Utilization Price Trends (2025.3.31-2025.4.3) 【SMM Analysis】This Week's Separator Prices Show Divergence 【SMM Analysis】Unlocking the Future: How Can Lithium Batteries Become More Powerful? 【SMM Analysis】This Week's Ternary Precursor Prices Rise Slightly, Expected to Remain Firm in the Short Term 【SMM Analysis】This Week's Ternary Material Prices Continue to Rise Slightly 【SMM Analysis】Spot Prices of Cobalt Intermediate Products Rise Slightly 【SMM Analysis】Spot Prices of Refined Cobalt Slightly Decline, Downstream Demand Weak 【SMM Analysis】Spot Prices of Cobalt Sulphate Slightly Decline, Market Sentiment Cautious 【SMM Analysis】Calculation of US Tariff Rates on ESS Battery Cell Exports to China After "Reciprocal Tariffs" Implementation 【SMM Analysis】Downstream Demand Improves, This Week's Anode Raw Material Coke Prices Fluctuate Rangebound 【SMM Analysis】Limited Profit Margins, This Week's Graphitisation Outsourcing Prices Remain Stable 【SMM Analysis】Costs Remain Stable, This Week's Anode Material Prices Remain Stable 【SMM Analysis】This Week's Cobalt Chloride Prices Slightly Rise 【SMM Analysis】This Week's Co3O4 Prices Remain Stable 【SMM Analysis】March Recycling Market Procurement and Output Volume Surge MoM 【SMM Analysis】DRC Export Ban Drives Significant Growth in Co3O4 Production in March

【Trump May Exempt Auto Parts Tariffs, Media: No Pure US-Made Cars Exist】 US President Trump stated that he is considering providing tariff exemptions for imported auto parts to US automakers to help them shift to producing parts domestically. Previously, Trump imposed a 25% tariff on all cars shipped to the US, which is expected to increase car purchase costs by thousands of dollars. Trump noted that some automakers "need time" to relocate production from Canada, Mexico, and other places to the US, and that future parts should be produced domestically. Reports indicate that there are currently no purely US-made cars. Even cars assembled in US factories have a significant proportion of imported parts. (CCTV Finance) 【Canada to Conditionally Exempt Some Countermeasures Against US Auto Imports】 The Canadian federal Ministry of Finance announced on its official website that it will exempt some countermeasures against US auto imports to support the development of domestic automakers. The Ministry stated in a declaration: "The exemptions for these companies depend on whether they continue to produce cars in Canada and complete planned investments." 【Tesla's Shanghai Gigafactory Begins Mass Export of Refreshed Model Y】 At 13:00 on April 14, the Panamanian roll-on/roll-off ship "Great Stride" docked at berth 3 of Shanghai South Port. During its stay, the ship plans to load 3,499 EVs produced at Tesla's Shanghai Gigafactory for export, including 3,015 units of the refreshed Tesla Model Y, marking its first mass export. Driven by new models like the refreshed Model Y, car exports from Shanghai South Port saw a significant increase in April. 【New National Standard for EV Batteries to Take Effect on July 1, 2026】 The mandatory national standard "Safety Requirements for Power Batteries for Electric Vehicles" (GB38031-2025), organized by the MIIT, was recently released and will take effect on July 1, 2026. Key revisions include updates to thermal propagation testing, clarifying temperature requirements, power states, observation times, and vehicle testing conditions. Technical requirements have been adjusted from providing a thermal event alarm signal within 5 minutes before fire or explosion to no fire or explosion (still requiring an alarm), with no harm to occupants from smoke. New additions include a bottom impact test to assess battery protection after impact, and a safety test after 300 fast-charge cycles, requiring no fire or explosion during external short-circuit testing. The revised standard explicitly applies to power batteries for EVs, excluding non-drive batteries. Insulation resistance requirements have been improved, including AC circuit battery system insulation resistance. Compression test requirements have been enhanced, with additional insulation resistance-related criteria. 【Self-Discipline in ESS? CATL and Over 20 Giants Hold Closed-Door Meeting to Draft Initiative】 Following the self-discipline initiative in the PV industry, the PV inverter and ESS sectors may follow suit. Sources revealed that the China Photovoltaic Industry Association recently held a closed-door meeting to address "cut-throat competition" in PV inverters and ESS, where a draft initiative for healthy industry development was preliminarily reviewed. Over 20 top-tier companies, including Sungrow, Huawei, CRRC, CATL, EVE, GoodWe, Growatt, Ginlong, Sineng Electric, Chint, TBEA, Hoymiles, Hopewind, Deye, Sofar, APsystems, and Envision, attended and spoke at the meeting. Participants noted that the initiative does not involve pricing, quotas, or deposits, and has completed a round of feedback. In recent years, PV inverter and ESS product prices have continued to decline, risking a vicious cycle of irrational competition. (Sina Finance) 【Top Group Plans to Invest Up to $300 Million in Auto Parts Production Base in Thailand】 Top Group (601689.SH) announced plans to invest up to $300 million in an auto parts production base in Thailand, to be implemented in phases, with the actual investment amount subject to approval by Chinese and local authorities. The investment has been approved at the 20th meeting of the company's fifth board of directors. The company continues to advance its internationalization strategy, having established production bases in multiple locations. This investment aims to improve international geographic布局, expand international client business, and leverage local advantages to enhance economic效益. However, the investment still requires filing or approval from relevant departments and faces risks such as adjustments to construction plans, content, and scale. Related Reading: 【SMM Analysis】Weekly Review of Scrap Spot Price Trends, 2025.4.7-2025.4.11 【SMM Analysis】Overseas Lithium News, 4.7-4.11 【SMM Analysis】Update on Bougouni Lithium Mine Project in Mali: Steady Production Ramp-Up, Mining Rights Transfer Progressing Smoothly Multiple Positive Factors Boost Auto Parts Sector, Up Nearly 6% in Intraday Trading: Do US Tariffs Offer More Possibilities for Chinese EVs? 【SMM Analysis】Post "Reciprocal Tariff" Implementation: US Tariff Rates on NEV Exports to Major Global Regions 【SMM Analysis】ESS Battery Cell Weekly Price Trends, 04.03-04.10 【SMM Analysis】Anode Material Prices Remain Stable This Week 【SMM Analysis】Separator Prices Hold Steady This Week 【SMM Analysis】Ternary Material Prices Slightly Corrected This Week 【SMM Analysis】Ternary Precursor Prices Slightly Corrected This Week, Expected to Remain Firm in the Short Term 【SMM Analysis】Refined Cobalt Spot Prices Decline 【SMM Analysis】Cobalt Intermediate Product Spot Prices Hold Up Well 【SMM Analysis】Weekly Review of Waste Battery for Cascade Utilization Price Trends, 2025.04.07-2025.04.10 【SMM Analysis】Recent Electrolyte Prices, 2025.4.7-2025.4.10 【SMM Analysis】Cobalt Chloride Prices Rise Slightly This Week 【SMM Analysis】Cobalt Sulphate Spot Prices Correct, Market Sentiment Cautious 【SMM Analysis】Weekly Review of Lithium Carbonate Market: Macro Headwinds Pressure Price Center Down Nearly 1,000 Yuan 【SMM Analysis】Power Battery Cell Prices Diverged This Week, Domestic Demand Boosts Production Schedule 【SMM Analysis】LFP Material Market Situation in Early April 【SMM Analysis】Impact of US "Reciprocal Tariffs" on Chinese Power Batteries 【SMM Analysis】Supported by Costs, Graphitisation Outsourcing Prices Remain Stable This Week 【SMM Analysis】Petroleum Coke Prices Rise This Week, Needle Coke Prices Slightly Decline 【SMM Analysis】Chinese Automakers Break Through in Southeast Asia: The NEV Industry Shift Behind the Bangkok Auto Show 【SMM Analysis】Co3O4 Prices Slightly Decline This Week Spodumene Imports Reach 1.16 Million mt in First Two Months, Lithium Hydroxide Exports Hit New Low!【SMM Special】 US Auto Tariff Policy Officially Implemented! Mixed Reactions from Countries, Some Automakers Signal Price Hikes!【SMM Hot Topic】 Cobalt Chloride Rises for 4 Days! Mixed Price Trends in Cobalt Products, Ban Drives Significant Cobalt Salt Production Growth【Weekly Observation】 【SMM Analysis】Powerhouse Collaboration: Australian Lithium Exploration Giant Emerges 【SMM Analysis】Weekly Summary of LFP Market 【SMM Analysis】Recent Electrolyte Prices, 2025.3.31-2025.4.3 【SMM Analysis】Weekly Review of Waste Battery for Cascade Utilization Price Trends, 2025.03.31-2025.04.03 【SMM Analysis】Separator Prices Diverged This Week 【SMM Analysis】Unlocking the Future: How Can Lithium Batteries Become More Powerful? 【SMM Analysis】Ternary Precursor Prices Rise Slightly This Week, Expected to Remain Firm in the Short Term 【SMM Analysis】Ternary Material Prices Continue Slight Uptrend This Week 【SMM Analysis】Cobalt Intermediate Product Spot Prices Rise Slightly 【SMM Analysis】Refined Cobalt Spot Prices Slightly Decline, Downstream Demand Weak 【SMM Analysis】Cobalt Sulphate Spot Prices Slightly Decline, Market Sentiment Cautious 【SMM Analysis】Post "Reciprocal Tariff" Implementation: US Tariff Rates on ESS Battery Cell Exports to China 【SMM Analysis】Downstream Demand Improves, Anode Raw Material Coke Prices Fluctuate Rangebound This Week 【SMM Analysis】Limited Profit Margins, Graphitisation Outsourcing Prices Remain Stable This Week 【SMM Analysis】Costs Hold Steady, Anode Material Prices Remain Stable This Week 【SMM Analysis】Cobalt Chloride Prices Slightly Rise This Week 【SMM Analysis】Co3O4 Prices Remain Stable This Week 【SMM Analysis】March Recycling Market Procurement and Output Surge MoM 【SMM Analysis】DRC Export Ban Drives Significant Co3O4 Production Growth in March

CPCA's Dongshu Cui: National Auto Market in March Shows Divergence, with Passenger Vehicles Outperforming Commercial Vehicles CPCA Secretary General Dongshu Cui stated that the national auto market in March showed divergence, with passenger vehicles outperforming commercial vehicles. The implementation of a new round of subsidy policies at the end of January 2025 led to retail sales of passenger vehicles in February and March exceeding previous expectations. Before the release of the "Two New" policies, market sentiment was low, with many consumers in a wait-and-see mode in January. However, market sentiment grew rapidly in February and March, with consumer demand for passenger vehicles remaining strong before the Chinese New Year, while the commercial vehicle market showed structural growth characteristics. Last year, commercial vehicle channel inventory was high, and in March this year, the commercial vehicle market diverged, with strong growth in the new energy categories of light trucks, micro buses, and medium and large buses. China's Power and Other Battery Production in March Reached 118.3 GWh, Up 18.0% MoM According to data from the China Automotive Power Battery Industry Innovation Alliance, China's power and other battery production in March 2025 reached 118.3 GWh, up 18.0% MoM and 54.3% YoY. From January to March, China's cumulative power and other battery production was 326.3 GWh, up 74.9% YoY. In March, China's power and other battery sales were 115.4 GWh, up 28.3% MoM and 64.9% YoY. Among them, power battery sales were 87.5 GWh, accounting for 75.8% of total sales, up 30.7% MoM and 46.9% YoY; other battery sales were 28.0 GWh, accounting for 24.2% of total sales, up 21.0% MoM and 166.8% YoY. GM Suspends Production at a Canadian Plant The Canadian auto workers' union Unifor confirmed on April 12 that GM will suspend production at the CAMI assembly plant in Ingersoll, Ontario. Layoffs will begin on April 14, and partial production will resume in May. After that, production at the plant will be temporarily halted, and operations will be suspended until October 2025. During this period, GM plans to complete equipment upgrades in preparation for the production of the 2026 commercial EV. GM stated that when production resumes in October, the plant will operate on a single shift for the foreseeable future, which will also result in 500 workers being laid off indefinitely. Hunan Yuneng: Rumors of Order Cuts by CATL and BYD Are Unfounded An investor asked whether rumors of order cuts by major shareholders CATL and BYD were true. Hunan Yuneng responded on the interactive platform that the company, relying on its core technology and independent innovation capabilities, has established industry-leading production processes for phosphate cathode materials and iron phosphate precursors. With the continuous iteration of new energy battery technology and the improvement of power battery performance, new application scenarios are emerging, and the demand potential for power batteries driven by intelligent applications is expected to be released, thereby driving the demand for phosphate cathode materials in emerging application scenarios. The company will closely monitor industry developments and plans to enhance operational efficiency by introducing artificial intelligence and strengthening digital management to empower its main business development. The rumors of order cuts by CATL and BYD are unfounded. Xiaomi Auto Responds to Zhanjiang Accident: Fire Caused by Severe Squeezing and Deformation of Electric Bicycle's Lithium Battery After Collision, Which Then Ignited the Accident Vehicle Xiaomi Auto announced that on the early morning of April 5, 2025, a Xiaomi SU7 standard version collided with an electric bicycle on Provincial Highway 376 in Qujie Town, Xuwen County, Zhanjiang City, while the driver (not the owner) was manually driving. After the accident, the driver fled the scene. According to the latest police report, the driver has been arrested. The on-site investigation has been completed, and the final conclusion will be based on the relevant department's report. Preliminary findings indicate that the fire was caused by the severe squeezing and deformation of the electric bicycle's lithium battery after the collision, which then ignited the accident vehicle. Ganfeng Lithium: Signs Letter of Intent with LAR for Salt Lake Development Ganfeng Lithium announced that it has signed a letter of intent with Lithium Argentina AG to jointly develop the Pozuelos-Pastos Grandes salt lake basin in Argentina. The salt lake basin consists of three lithium salt lake projects: the PPG lithium salt lake project wholly owned by Ganfeng Lithium, the PG lithium salt lake project jointly held by both parties (Ganfeng Lithium holds 14.89%, LAR holds 85.11%), and the SDLP lithium salt lake project (Ganfeng Lithium holds 35%, LAR holds 65%). The two parties plan to integrate the three projects into a new project, the "PPGS lithium salt lake project," and formulate a phased development plan. The production process of the PPGS lithium salt lake project will partially adopt direct lithium extraction (DLE) technology, with a long-term planned annual capacity of 150,000 mt LCE. The products will include lithium chloride or lithium carbonate. Related Reading: [SMM Analysis] A Review of This Week's Scrap Spot Price Trends, 2025.4.7-2025.4.11 [SMM Analysis] Overseas Lithium News, 4.7-4.11 [SMM Analysis] Update on the Progress of the Bougouni Lithium Mine Project in Mali: Production Steadily Ramping Up, Mining Rights Transfer Proceeding Orderly Multiple Positive Factors Boost Auto Parts Sector, Up Nearly 6% in Intraday Trading: Will US Tariffs Offer More Possibilities for Chinese EVs? [SMM Analysis] After the Implementation of "Reciprocal Tariffs," Calculation of US Tariff Rates on NEV Exports to Major Global Regions and Countries [SMM Analysis] ESS Battery Weekly Price Trends, 4.03-4.10 [SMM Analysis] This Week's Anode Material Prices Remain Stable [SMM Analysis] This Week's Separator Prices Remain Stable [SMM Analysis] This Week's Ternary Material Prices Show a Slight Correction [SMM Analysis] This Week's Ternary Precursor Prices Show a Slight Correction, Expected to Remain Firm in the Short Term [SMM Analysis] Spot Prices of Refined Cobalt Decline [SMM Analysis] Spot Prices of Cobalt Intermediate Products Hold Up Well [SMM Analysis] A Review of This Week's Waste Battery for Cascade Utilization Price Trends, 2025.04.07-2025.04.10 [SMM Analysis] Recent Electrolyte Prices, 2025.4.7-2025.4.10 [SMM Analysis] This Week's Cobalt Chloride Prices Rise Slightly [SMM Analysis] Spot Prices of Cobalt Sulphate Correct, Market Sentiment Remains Cautious [SMM Analysis] Weekly Review of the Lithium Carbonate Market: Macro Headwinds Weigh Down Prices, Price Center Drops by Nearly 1,000 Yuan [SMM Analysis] This Week's Power Battery Cell Prices Show Divergence, Domestic Demand Boosts Production Schedule [SMM Analysis] Market Situation of LFP Materials in Early April [SMM Analysis] Impact of US "Reciprocal Tariffs" on Chinese Power Batteries [SMM Analysis] Supported by Costs, This Week's Graphitisation Outsourcing Prices Remain Stable [SMM Analysis] This Week's Petroleum Coke Prices Rise, Needle Coke Prices Show a Slight Decline [SMM Analysis] Chinese Automakers Break Through in Southeast Asia: The New Energy Industry Transformation Behind the Bangkok Auto Show [SMM Analysis] This Week's Co3O4 Prices Show a Slight Decline Spodumene Imports in the First Two Months Reach 1.16 Million mt, Lithium Hydroxide Exports Hit a New Low! [SMM Special Topic] US Auto Tariff Policy Officially Implemented! Mixed Reactions from Countries, Some Automakers Already Signaling Price Increases! [SMM Hot Topic] Cobalt Chloride Rises for 4 Consecutive Days! Mixed Price Trends in Cobalt Products, Ban Drives Significant Growth in Cobalt Salt Production [Weekly Observation] [SMM Analysis] Strong Alliance: The Emergence of Australia's Lithium Mining Exploration Giant [SMM Analysis] Weekly Summary of the LFP Market [SMM Analysis] Recent Electrolyte Prices, 2025.3.31-2025.4.3 [SMM Analysis] A Review of This Week's Waste Battery for Cascade Utilization Price Trends, 2025.03.31-2025.04.03 [SMM Analysis] This Week's Separator Prices Show Divergence [SMM Analysis] Unlocking the Future: How Can Lithium Batteries Become More Powerful? [SMM Analysis] This Week's Ternary Precursor Prices Rise Slightly, Expected to Remain Firm in the Short Term [SMM Analysis] This Week's Ternary Material Prices Continue to Show a Slight Uptrend [SMM Analysis] Spot Prices of Cobalt Intermediate Products Rise Slightly [SMM Analysis] Spot Prices of Refined Cobalt Slightly Decline, Downstream Demand Remains Weak [SMM Analysis] Spot Prices of Cobalt Sulphate Slightly Decline, Market Sentiment Remains Cautious [SMM Analysis] After the Implementation of "Reciprocal Tariffs," Calculation of US Tariff Rates on ESS Battery Exports to China [SMM Analysis] Downstream Demand Improves, This Week's Anode Raw Material Coke Prices Fluctuate Rangebound [SMM Analysis] Limited Profit Margins, This Week's Graphitisation Outsourcing Prices Remain Stable [SMM Analysis] Costs Remain Stable, This Week's Anode Material Prices Remain Stable [SMM Analysis] This Week's Cobalt Chloride Prices Slightly Rise [SMM Analysis] This Week's Co3O4 Prices Remain Stable [SMM Analysis] March Recycling Market Procurement and Output Volume Show Significant MoM Growth [SMM Analysis] Impacted by the DRC Export Ban, March Co3O4 Production Shows Significant Growth

US and Canada Auto Sales May Drop by 1.8 Million Units Due to Trade War Auto sales in the US and Canada may drop by 1.8 million units this year due to the trade war. Detroit-based automotive consulting firm Telemetry predicts that if the global trade war escalates further, auto sales in the US and Canada could decrease by 1.8 million units this year and may even stagnate over the next decade. Kia Lowers 2030 EV Sales Target Kia Motors announced on April 9 that it has lowered its 2030 EV sales target, aiming to sell 4.19 million vehicles by 2030, including 1.26 million EVs and nearly 1 million hybrid vehicles. Previously, Kia's target was to sell 1.6 million EVs and 882,000 hybrid vehicles by 2030. Institution: Japan's Auto Exports to US Market May Lose $17 Billion The International Trade Centre, a UN trade agency, stated that Japan's auto exports to the US market may lose $17 billion due to the US imposing a 25% tariff on imported vehicles. (Cailian Press) Cui Dongshu, Secretary General of CPCA: US Tariff Hike to Provide Greater Development Space for Chinese EVs Overseas Cui Dongshu, Secretary General of the China Passenger Car Association (CPCA), stated today that the US tariff hike will provide greater development space for Chinese EVs in overseas markets. "In the past, Chinese cars faced a complex environment in overseas markets, but now the world trade order is showing a multipolar development trend, which has brought relatively independent development space for Chinese cars in various countries." Cui Dongshu believes that there will be better opportunities, especially in intelligent electrification. "The core of intelligent electrification is electrification, and the core of electrification is the industry chain. China has a huge advantage in the electrification industry chain. We believe that in the future, we should strive to develop small and micro EVs and plug-in hybrid models to achieve our expansion in overseas markets." Battery Cells Face Structural Shortage, ESS Industry Welcomes Supply-Demand Reversal Since the beginning of this year, the global ESS battery cell market has seen significant changes in the supply-demand pattern. Production lines of several leading battery manufacturers are almost fully operational. Recently, a leading ESS integrator provided feedback to reporters: "According to our procurement department, there is indeed a phenomenon of urging battery cell manufacturers for delivery, mainly because many of our ESS orders are concentrated for delivery in April and May." Industry insiders believe that driven by policies, the explosion of emerging market demand, and the surge in demand for computing infrastructure, the supply-demand mismatch of battery cells has shifted to local shortages, and the ESS industry is ushering in a new development cycle amid the supply-demand reversal. Ganfeng Lithium: Company Makes Multiple Breakthroughs in Solid-State Battery R&D Ganfeng Lithium (002460.SZ) announced that the company has made significant progress in materials, battery cells, system integration, and commercial applications of solid-state batteries. The company has established a full-chain layout for solid-state batteries, with R&D and production capabilities, and is accelerating the commercialization of solid-state batteries. In terms of technological breakthroughs, the company is simultaneously advancing silicon-based and lithium metal anode routes to overcome industrial barriers and promote the mass production of high-specific-energy batteries. In terms of multi-scenario applications, the company is gradually improving the integrated layout of solid-state batteries and actively promoting the commercialization process. In the NEV field, the company has signed a joint development agreement with a leading international automaker; in the low-altitude economy field, it has launched a solid-state battery solution adapted to low-altitude flight scenarios; in the consumer electronics field, the company's high-safety, low-temperature-resistant solid-state lithium batteries have achieved new breakthroughs and have been sent in batches for verification to internationally renowned mobile phone companies. Related Reading: Spodumene Imports Reach 1.16 Million mt in the First Two Months, Lithium Hydroxide Exports Hit a New Low! [SMM Special] US Auto Tariff Policy Officially Implemented! Mixed Reactions from Countries, Some Automakers Have Already Released Price Hike Signals! [SMM Hot Topic] Cobalt Chloride Rises for 4 Consecutive Days! Cobalt Product Prices Mixed, Ban Drives Significant Growth in Cobalt Salt Production [Weekly Observation] [SMM Analysis] Strong Alliance: Australian Lithium Mining Exploration Giant Emerges LFP Market Weekly Summary [SMM Analysis] [SMM Analysis] Recent Electrolyte Prices (3.31-4.3, 2025) [SMM Analysis] A Review of This Week's Waste Battery for Cascade Utilization Price Trends (3.31-4.3, 2025) [SMM Analysis] This Week's Separator Price Trends Show Divergence [SMM Analysis] Unlocking the Future: How Can Lithium Batteries Become More Powerful? [SMM Analysis] Ternary Precursor Prices Rise Slightly This Week, Expected to Remain Firm in the Short Term [SMM Analysis] Ternary Cathode Material Prices Continue to Rise Slightly This Week [SMM Analysis] Cobalt Intermediate Product Spot Prices Rise Slightly [SMM Analysis] Refined Cobalt Spot Prices Slightly Decrease, Downstream Acceptance Remains Weak [SMM Analysis] Cobalt Sulphate Spot Prices Slightly Decrease, Market Sentiment Remains Cautious [SMM Analysis] Calculation of US Tariff Rates on ESS Battery Cells Exported to China After "Reciprocal Tariffs" Implementation [SMM Analysis] Downstream Demand Increases, This Week's Negative Electrode Raw Material Coke Prices Fluctuate Rangebound [SMM Analysis] Limited Profit Margin, This Week's Graphitization Outsourcing Prices Remain Stable [SMM Analysis] Costs Remain Stable, This Week's Negative Electrode Material Prices Remain Stable [SMM Analysis] This Week's Cobalt Chloride Prices Slightly Increase [SMM Analysis] This Week's Co3O4 Prices Remain Stable [SMM Analysis] March Recycling Market Procurement and Output Increase Significantly MoM [SMM Analysis] Affected by DRC Export Ban, March Co3O4 Production Increases Significantly [SMM Analysis] March Separator Demand Rebounds Significantly [SMM Analysis] March Lithium Battery Material Supply Increases MoM, NEV Market Gradually Recovers [SMM Analysis] March Separator Demand Rebounds Significantly [SMM Analysis] March Iron Phosphate Market Gradually Recovers, Production Increases Significantly Compared to February China's LFP Market Production Rebounds in March, but Overall Growth Rate Falls Short of Expectations, April Demand Growth Slows [SMM Analysis] [SMM Analysis] Downstream Demand Increases, March Negative Electrode Material Production Rises [SMM Data] March 2025 LiPF6 Production Increases MoM, April Output Expected to Continue Rising [SMM Data] March 2025 Electrolyte Production Increases MoM, April Output Expected to Continue Rising [SMM Analysis] March 2025 SMM Lithium Carbonate Total Production Increases 23% MoM and 85% YoY, Reaching a Record High