Expected lithium price to fall below 100,000 RMB/ton next year, good news for electric car price reduction!

Anticipated Decline in Lithium Price Below 100,000 RMB/ton Expected Next Year, Promising Reduction in Electric Car Prices!

【PhoneAuto News】Recently, PhoneAuto noticed that according to the latest research report from CITIC Securities, as the lithium price continues to fall, lithium companies in South America have adjusted their operating expectations. The report predicts that by 2024, the lithium price may fall below 100,000 yuan/ton, which undoubtedly has a significant impact on the entire electric vehicle industry. Recently, the downward trend in lithium prices has been accelerating, and the decline in Australian lithium mine prices has also widened, further weakening the cost support logic. This situation not only increases the operating pressure on South American lithium companies but also suggests a more sluggish trend in lithium prices in the future.

In fact, this trend has already attracted the attention of the industry. Some industry insiders point out that the decline in lithium prices is an inevitable result of the industry entering a downward cycle. In this process, the trend of mergers and acquisitions and consolidation within the industry reappears, and some high-cost marginal production capacity may be eliminated. For the electric vehicle industry, the decline in lithium prices is undoubtedly a major positive. The core component of electric vehicles is the battery, and the main raw material for batteries is lithium. With the decline in lithium prices, the manufacturing cost of electric vehicles is expected to further decrease, thereby driving down the prices of electric vehicles.

Currently, some market institutions have started to predict that lithium prices may continue to decline in the future. As this trend develops, the price of electric vehicles is also expected to decrease, which will undoubtedly play a positive role in promoting the development of the electric vehicle market. Of course, for some companies that rely on lithium resources, the decline in lithium prices may bring certain operational pressures. However, in the long run, these pressures may urge these companies to pay more attention to improving production efficiency and reducing costs, thereby enhancing their competitiveness.

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