BYD announced a 20% increase in product prices from November

October 28, 2021

On October 26, 2021, a BYD battery price increase contact letter was posted on the market. According to the letter, due to market changes and superimposed power and production restrictions, compared with December 2020, lithium battery raw materials will continue to rise in 2021. The price of cathode material LiCoO2 will increase by more than 200%, the price of electrolyte will increase by more than 150%, and the price of anode materials will increase by more than 150%. As the supply continues to be tight, the overall cost has increased significantly. According to the actual situation of rising raw material prices, the unit price of CO8M and other battery products will be increased after research.

BYD announced a 20% increase in product prices from November

The specific battery price adjustment plan is as follows:

1. The tax-included price of the product will increase by no less than 20% on the basis of the current Wh unit price. Please refer to the new quotation for specific models and prices;

2. From November 1, 2021, all new orders will sign a new contract and implement the new price;

3. From November 1, 2021, all unexecuted old contract orders will be closed and cancelled by our system.

The BYD battery price increase basically does not affect other brands. The main reason is that BYD's battery department did not formally and independently supply externally in 19 years. So far, there is no other brand of mass-produced vehicles on the market equipped with BYD batteries, but in the commercial field, BYD's pure electric buses are products that affect the world.

It is reported that BYD pure electric buses cover more than 50 countries and regions and more than 300 cities, including developed countries such as the United States, Germany, Japan, and the UK. As early as 19 years ago, BYD was already the world's first-selling pure electric bus. Card. The battery price increase may make the export sales of BYD buses, which are ready to take off in the global market, encounter certain difficulties.