June 08, 2023

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BYD to raise 20% battery prices by 1st November 

BYD to raise battery prices

BYD to raise 20% battery prices by 1st November 

BYD a major battery supplier to increase the prices of its lithium battery cells by at least 20 per cent from next month i.e., from November 1. The rise in the price of lithium is because of the price hike in the raw materials for lithium batteries in 2021 and the price of the cathode material LiCoO2 rises by more than 200 per cent and electrolyte prices rise by more than 150 per cent. Read further to know about BYD to raise battery prices by 1st November. 

The material supply chain continues to rise to lead to an increase in comprehensive costs.BYD will need to up the price of its battery cells to compensate for its own comprehensive price increases. The BYD and its customers will sign a new contract for new orders and implement the new prices and the old contract orders that are not yet completed will be closed and cancelled.

BYD currently develops battery technologies for use around the globe and owns the complete supply chain layout from mineral to battery cells to battery packs for energy storage.

With the faster development of new energy vehicles, the prices of raw materials such as cobalt, used in lithium batteries have high demand. According to the data as of October 8, 2021, the price of domestic cobalt has risen from a low of less than 240,000 yuan ($37,609) per ton in April last year to over 380,000 yuan per ton, an increase of nearly 60%.

BYD is a leading supplier of electric buses across Europe with over 2,000 eBuses delivered or on order. Additionally, BYD electric forklifts range can be found in over 11 countries in 50 specialist dealers which assures a comprehensive after-sales service.

Recently, BYD had announced that it has partnered with Levo a joint venture between Fleet as a Service (FaaS) provider Nuvve, and capital investors Stonepeak, and Evolve to integrate Nuvve’s V2G technology with a mix of BYD battery electric vehicles (BEVs). The companies also plan for joint deployment of up to 5,000 BEVs in the next five years in the US.

The Levo intends to buy around 5,000 medium and heavy-duty V2G-enabled BEVs over five years through the partnership with BYD. The electric vehicles include transit busses and coaches, yard tractors, last-mile delivery vehicles, drayage, and refuse trucks and school buses.

Recently, the BYD has announced that it has sold 68,018 battery-electric buses worldwide which helps to eliminate 114,947,040 tons of CO2 emissions, 1,836,432 cars worth of emissions, 80,160 tons of nitrogen oxide, 23,805,600 lbs of diesel particulate matter according to the transportation gov calculations.

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