In June 2024, China's alternative energy vehicle exports encountered the negative news of the EU's tariff increase. But favourable domestic car market policies continue to stimulate the demand for new energy vehicles. However, this part of the demand did not continue upward conduction along the industrial chain, but is gradually dissipated by overcapacity and self-provisioning inventories of manufacturers at all levels.
Major market dynamics
On 22 June, 2024, Shijiazhuang Shangtai Technology Co., Ltd. announced that it intends to expand overseas investment.
On 18 June, 2024, Wuxi Jewel Power & Materials Co., Ltd. released a foreign investment announcement.
On 31 May, Sociedad Química y Mine, the joint-stock company of Tianqi Lithium Co., Ltd., signed a Partnership Agreement with Corporación Nacional del Cobre de Chile.
From the end of May to June 2024, Shenzhen Capchem Technology Co., Ltd. has continuously obtained overseas lithium battery electrolyte orders.
The USD/RMB exchange rate in this newsletter is USD1.00=RMB7.1086 on 3 June, 2024, sourced from the People's Bank of China.
All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.
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