The price of power batteries continued to decline, with the price of lithium iron phosphate cells and ternary cells falling by 56% and 54% respectively.

Data shows that throughout 2023, the prices of lithium iron phosphate cells (power type) and ternary cells (power type) dropped from 0.99 yuan/Wh and 1.1 yuan/Wh at the beginning of the year to 0.44 yuan/Wh and 0.5 yuan/Wh at the end of the year, respectively, a decrease of 56% and 54%. This trend shows that competition in the power battery industry is becoming increasingly fierce.