动力电池行业周报：11月新能源汽车产销两旺，产业链价格企稳

Investment Rating - The report maintains a "Recommended" investment rating for the industry [4]. Core Insights - The overall industry sentiment remains positive, with a focus on the upward trend in the upstream raw material prices, monthly sales, and the implementation of industry regulations. The long-term outlook for the domestic and international electric vehicle industry is promising, making the sector worthy of attention [2][4]. Summary by Sections 1. Industry Weekly Data Tracking 1.1 Upstream Materials - The average price of industrial-grade lithium carbonate is 73,000 CNY/ton, down 1.25% from the previous week. Battery-grade lithium carbonate averages 76,000 CNY/ton, down 1.20% [57][58]. - The price of 523 single crystal power materials is stable at 107,100 CNY/ton, while 622 multi-crystal materials are at 106,700 CNY/ton. High nickel 811 multi-crystal materials are priced at 142,500 CNY/ton [72]. - The negative electrode material market remains concentrated, with prices stable at 33,000 CNY/ton [80]. - Electrolyte prices have shown a slight increase, with lithium iron phosphate electrolyte averaging 19,400 CNY/ton, up 1.57%, and ternary/conventional electrolyte at 25,300 CNY/ton, up 0.39% [91]. - Separator prices remain stable, with 7um wet separators averaging 0.84 CNY/sqm and 16um dry separators at 0.41 CNY/sqm [96]. 1.2 Downstream Demand - In November 2024, China's automotive production and sales reached 3.437 million and 3.316 million units, respectively, with month-on-month increases of 14.7% and 8.6% [2]. - New energy vehicle production and sales in November reached 1.566 million and 1.512 million units, with year-on-year growth of 45.8% and 47.4%, increasing market share to 45.6% [2][109]. - The total investment for the new super energy storage factory by Yiwei Lithium Energy is 10.8 billion CNY, with a designed production capacity of 17 GWh [2][110]. - Guoxuan High-Tech plans to invest 19 billion CNY in two battery bases, with a total investment not exceeding 25.14 billion euros (approximately 191.4 billion CNY) [2][110]. 2. Industry News Events - Yiwei Lithium Energy's 60 GWh super energy storage factory has officially commenced production, becoming the largest lithium battery production base in Central China [110].