Automotive Industry News: New All-Solid-State Battery Standards Released

As of May 23, according to Shanghai Nonferrous Metals Network, the price of battery-grade lithium carbonate is between 61,600 and 64,500 yuan per ton, with an average price of 63,050 yuan per ton, remaining stable compared to the previous business day. Industrial-grade lithium carbonate is priced between 60,950 and 61,950 yuan per ton, averaging 61,450 yuan per ton, also stable from the previous business day. The spot price of lithium carbonate is currently holding steady.

The lithium carbonate market continues to show a weak operational pattern, with prices under pressure. From the supply side, some companies have begun to show signs of maintenance and production cuts, leading to a slight decrease in weekly output. However, with a small rebound in the market creating hedging opportunities, some non-integrated lithium salt manufacturers may resume production or increase output.

1. Institutional Perspectives

According to Guosen Securities, given the geopolitical context, the automotive sector, as a consumer good, is likely to see increased stimulus policies. They are optimistic about passenger vehicles and domestically produced replacement parts. The focus is on:

• Whole vehicles: New product cycles from Leap Motor, Xpeng Motors, Geely, Yutong Bus, and Seres.
• Intelligence: Companies like Coboda, Huayang Group, Joyson Electronics, Bertelli, and Baolong Technology.
• Robotics: Top Group, Sanhua Intelligent Controls, and Shuohuan Transmission.
• Domestic alternatives (globalization): Companies like Xingyu, Fuyao Glass, Jifeng, and Horizon Robotics.

2. Macro Events

The National Bureau of Statistics announced that in April, the production of new energy vehicles and charging piles grew by 38.9% and 43.1%, respectively. On May 22, the China Society of Automotive Engineers officially released the group standard for “Determination Method for All-Solid-State Batteries,” which clarifies the definition of all-solid-state batteries for the first time, addressing issues of ambiguous industry definitions and lack of testing methods. This lays a foundation for technological upgrades and industrial applications. The new standard specifies that “all-solid-state batteries” must achieve ion transfer entirely through solid electrolytes, forming a strict technical boundary with hybrid solid-liquid electrolyte batteries.

Furthermore, starting June 1, 2025, the Shanxi Provincial Development and Reform Commission, along with other departments, will implement full subsidies for hydrogen fuel truck tolls on highways.

3. Industry News

Xiao Zhengsan, president of the Circulation Association, stated on May 22 at the 2025 China Automotive Dealers Conference that the association will continuously propose policy recommendations to relevant departments on matters such as tax optimization and the transition from purchase management to usage management of automobiles.

From May 1 to 18, the national passenger car market recorded retail sales of 932,000 vehicles, representing a 12% year-on-year increase and an 18% increase compared to the same period last month. Cumulatively, 7.804 million vehicles have been sold this year, an 8% year-on-year growth. In the same time frame, retail sales of new energy vehicles reached 484,000, up 32% year-on-year and 15% month-on-month, totaling 3.808 million since the beginning of the year, marking a 35% increase year-on-year.

According to TrendForce, global sales of new energy vehicles, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hydrogen fuel cell vehicles, reached 4.02 million units in the first quarter of 2025, marking a 39% annual increase, with new energy vehicles accounting for 18.4% of global automotive sales in that quarter.

During April, a total of 21 brands launched OTA upgrades, according to data from the Passenger Car Association. The industry updated 391 features, a significant increase from the 265 updates in the previous month. However, the overall number of OTA features remains noticeably lower than the average from the second half of 2024, especially in the “assisted driving” module.

4. Company Updates

Xiaomi officially launched the YU7 on May 22, with founder and CEO Lei Jun stating that a price of 199,000 yuan is “impossible.” The official pricing will not be announced until July when the YU7 is expected to officially hit the market.

Xpeng Motors plans to introduce humanoid robots for industrial and commercial applications by 2026. Chairman He Xiaopeng announced that their physical world base model will be fully applied in AI automotive fields by 2025, with development towards higher levels of autonomous driving technology.

WeRide reported a total revenue of 72.44 million yuan in the first quarter of 2025, with a gross margin of 35%. Their Robotaxi revenue reached 16.1 million yuan, representing 22.3% of total revenue. The company also announced a share buyback plan of up to $100 million as a demonstration of confidence in future growth.

Guoxuan High-Tech announced that its Gyan solid-state batteries have received recognition from numerous mainstream automotive manufacturers and have been tested in new models. The company has established a pilot line for solid-state batteries and is beginning the design of its first mass production line.

5. Secondary Market

The industry performance and valuations are currently closely monitored, with a focus on new energy vehicle sales and raw material prices.