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CnEVPost Newsletter: China NEV sales; drop in battery prices
China's NEV penetration rate at retail was 37.8 percent in October, up from 36.9 percent in September.
Tesla's share of the NEV market in China was 3.73 percent in October, and its share of the BEV market was 5.78 percent.
"In light of China's EV market remaining ultra competitive for the foreseeable future, Xpeng's strategy continues to resonate well with us, making the stock our Top Pick in the group," Deutsche Bank said.
Saudi PIF could invest at least $250 million in Human Horizons at a valuation of $3 billion, and a deal could be reached as early as this year, according to Bloomberg.
China's lithium battery industry's overcapacity will continue into 2024, and battery prices will still decline next year, TrendForce said.
The average price of battery-grade lithium carbonate in China is falling close to RMB 150,000 per ton, about half of what it was at the end of June, as supply-demand imbalances continue.
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