Trend outlook for lithium batteries for electric vehicles in 2024: lithium batteries are more competitive with high quality and low price!

Trend outlook for lithium batteries for electric vehicles in 2024 lithium batteries are more competitive with high quality and low price

Trend outlook for lithium batteries for electric vehicles in 2024. In 2023, the price of battery-grade lithium carbonate peaked and fell back: Shanghai Steel Union data showed that it was as high as 510,000 yuan/ton at the beginning of the year, and it had fallen to 100,000 yuan/ton by the end of the year. For lithium battery companies, this is undoubtedly a major positive. After all, in the electric vehicle industry, for every 100 yuan drop in lithium battery prices, sales will increase by 6%-8%.

The market has verified this lithium battery trend. During the Dragon Year Spring Festival holiday, the lithium batteries for electric vehicles market was very bright, and lithium electric vehicles became the preferred choice for users to replace or purchase new electric vehicles. “New Year’s lithium gift” has become a new fashion.

Lithium battery models of brands such as Yadea, Emma, ​​Luyuan, and Niu have become consumers’ “New Year’s favorites”. Dealers are also paying more and more attention to and promoting lithium electric vehicles and lithium batteries. Lithium electric vehicles and lithium batteries in stores have been placed in the conspicuous and main “C position”. It can be said that lithium batteries have gained enough popularity and “box office” during this Spring Festival.

So, with the main theme that 2024 is the harvest season for lithium batteries, it is necessary to analyze the product development trend of lithium batteries for electric vehicles to provide a reference for the entire electric vehicle industry to adapt to the development trend and seize market opportunities.

Lithium batteries for electric vehicles trend 1: Stricter supervision, inferior lithium batteries will be driven out of the market

To increase the penetration rate of lithium batteries for electric vehicles, it is necessary to do a good job of “safety first” and ensure the safety of lithium batteries from the system and standards. For a long time, lithium battery safety issues have mainly arisen from illegal modifications and inferior batteries, which have caused a great social impact and brought the public a wrong perception that “lithium batteries are not safe enough.” The solution to the safety problem of lithium batteries for electric bicycles must first be standardized supervision.

The good news is that the mandatory national standard “Safety Technical Specifications for Lithium-ion Batteries for Electric Bicycles” will be officially implemented in 2024, and the supervision of lithium batteries for electric bicycles will be further tightened.

Severely crack down on and ban the inferior lithium batteries and illegal modifications that have long affected and restricted the development of lithium batteries for electric bicycles, fundamentally solve the safety problems of lithium battery work, guide the market into a positive development track, and allow genuine and safe lithium batteries to get rid of the “drag” of inferior lithium batteries and usher in rapid growth.

Advances in lithium batteries for electric vehicles enhance driving range
Advances in lithium batteries for electric vehicles enhance driving range

Lithium batteries for electric vehicles Trend 2: Manganese-based batteries consolidate their advantages and become the mainstream of the market with high-cost performance

The performance advantages of lithium batteries over lead-acid batteries are mainly reflected in their lightweight, long life, and low-temperature resistance. It is well known and will not be repeated. What we want to discuss here is the prospects for the application of different technical routes in the lithium battery market of electric vehicles under the lithium battery framework.

Taking into account the actual needs of consumers such as price, safety, and durability, among many technical routes, manganese-based batteries with “lower price”, “stronger overall performance” and “higher safety” are more suitable for the use scenarios and consumer choices of electric vehicles.

Taking the latest manganese-based material, which is also one of the focuses of the lithium battery industry in 2023, lithium iron manganese phosphate material, as an example, it has excellent chemical properties such as structural stability, low-temperature performance, and rate performance, and has unique advantages of lithium batteries in the application scenarios of low-speed vehicles such as electric two-wheelers.

Long battery life can make consumers worry-free and say goodbye to the trouble of frequent charging; excellent cycle life can effectively reduce the overall cost of using the vehicle, making consumers feel comfortable; extreme safety performance can make consumers feel at ease riding.

Lithium batteries for electric vehicles Trend 3: The proportion of large-capacity lithium batteries has increased to meet the needs of multiple electric light vehicle scenarios

At the beginning of 2024, many car companies including Yadea, Niu, Ninebot, and Hello launched long-range lithium-ion vehicles. Some models are equipped with 48V48AH lithium batteries, and the maximum range can reach 180-200 kilometers.

As a must-have for daily travel, electric vehicles have a range that users are most concerned about. Only when electric vehicles can travel far can they effectively meet the needs of life, which also provides a consumer basis for the growth of large-capacity lithium batteries?

In addition, the “oil-to-electric” market for motorcycles and tricycles is a general trend, and the domestic and foreign market demand is very strong. It has become the key business development of many leading lithium battery companies. It is natural to develop and launch large-capacity lithium batteries. In recent years, battery companies have successively launched large-capacity models such as 4848, 4852, 6024, 7625, etc., which fully meet the lithium battery application needs of diversified electric light vehicles.

It is particularly worth mentioning that the market demand for large-capacity lithium batteries is a “hotbed” for low-priced, low-quality, and highly safety-hazardous modified lithium batteries to “run rampant”. Now that large manufacturers have launched high-quality, high-standard, and high-safety large-capacity lithium batteries, it is believed that it can also play the role of “good money drives out bad money” and escort the safety of lithium batteries and the good development of the market.

Quality standardization

Price popularization

High-end performance

In summary, in 2024, lithium batteries for electric vehicles will present three major development trends: “quality standardization, price popularization, and high-end performance”. This will not only solve some of the problems that have plagued the continued development and growth of the lithium battery market but will also better meet the needs of users and cover more scenarios. We believe that the lithium batteries for the electric vehicles industry is expected to grow, and the autumn of lithium batteries is coming!

The efficiency of lithium batteries for electric vehicles is steadily improving

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