Recently, China Shanxi Guoxin Energy Corporation Limited(600617) automobile’s price increase in turn has attracted market attention, which is mainly due to the sharp rise in the price of lithium carbonate, the raw material of power battery. At the beginning of 2021, the price of lithium carbonate was less than 50000 yuan / ton. However, by the beginning of 2022, the price will rise to about 250000 yuan / ton; Now, only in the past quarter, it has exceeded 500000 yuan / ton. This is more than 10 times higher than the price in the lowest period, which makes many new energy vehicle enterprises feel the pressure of cost and start price adjustment one after another.
new energy vehicle enterprises have raised prices one after another, and the cost pressure is transmitted to the consumer
Tianfeng Securities Co.Ltd(601162) research shows that if the impact of bargaining power and procurement volume on the actual procurement cost is considered, and the hedging of performance technology progress and cost increase is superimposed, the cost increase transmitted from the rise of raw material price to lithium battery is about 20% – 25%.
Since January, nearly 20 new energy vehicle enterprises have announced price increases, involving nearly 40 models, ranging from 2000 yuan to 30000 yuan. Since the end of 2021, Tesla has experienced several rounds of price increases, and even two consecutive upward price adjustments were rare in March. Among them, the prices of model 3 and model y models have increased to varying degrees, with the amount ranging from 14000 to 28000. Domestic brands also successively issued price increase notices in March. Xiaopeng has increased the price for the second time this year, with the increase of various models ranging from 10000 to 20000 yuan Byd Company Limited(002594) has a small increase, generally around 3 Jointo Energy Investment Co.Ltd.Hebei(000600) 0 yuan. The prices of many new energy models of other brands such as ideal, Nezha, Zero run and Wuling have increased by different ranges. Generally speaking, the price increases of Sanyuanli and lithium iron phosphate battery models are very high. The larger the battery capacity, the more the price increasesP align = “center” the above charts are sorted from high to low according to the average increase per kWh.
At present, several car companies have not raised prices, including Weilai, jikrypton, etc. Krypton has announced that it will announce the price increase information on April 30 and implement it on May 1. Although Weilai has always claimed that it has not decided whether to increase the price, according to the current raw material price situation, Weilai’s price increase is almost certain. The difference is that it will rise now or wait until 2022 es8, ES6 and ec6 are released in late May.
raw material price increase exaggerated, auto enterprise executives responded
On the soaring price of raw materials for power batteries, many senior executives of car enterprises have made a voice for this. Tesla CEO musk previously said at the 2021 annual general meeting, “our goal is to make the price of cars as cheap as possible. However, our supply chain is facing huge cost pressure, so we have to raise the price of cars temporarily.” Subsequently, all Tesla models ushered in continuous price adjustment worldwide.
Li Bin, CEO of Weilai automobile, said at the fourth quarter earnings conference in 2021 that the price rise of lithium carbonate since this year is very exaggerated, and it is more disturbed by speculative factors outside the relationship between supply and demand. He called on upstream raw material manufacturers to return prices to rationality from the long-term interests of the whole industry.
Li Xiang, CEO of ideal automobile, said on his microblog on March 19 that the price rise of new energy vehicles was mainly due to “the range of battery cost rise is very unreasonable”. On March 23, ideal automobile announced that affected by the continuous sharp rise of upstream raw materials, the selling price of ideal one would be adjusted by 11800 yuan from April 1, 2022.
According to the data, in 2021, the sales of Shanxi Guoxin Energy Corporation Limited(600617) vehicles in China reached 3521000, with a year-on-year increase of 1.6 times, ranking first in the world for seven consecutive years. The retail penetration rate of new energy vehicles reached 14.8% in 2021, which is expected to increase to 22% in 2022. Therefore, we need to further observe the impact of the rise in vehicle prices caused by the rise in the price of raw materials on the sales of new energy vehicles in the future.
