SunSirs: The Growth in Production and Sales of New Energy Vehicles Is Positive for Cobalt Prices
January 15 2026 13:29:29 SunSirs (John)
According to data released by the China Association of Automobile Manufacturers (CAAM), in December, the production and sales of new energy vehicles (NEVs) reached 1.718 million and 1.71 million units respectively, representing year-on-year increases of 12.3% and 7.2%. NEV sales accounted for 52.3% of total new vehicle sales.
In 2025, cumulative production and sales of new energy vehicles reached 16.626 million and 16.49 million units respectively, setting new historical highs, with year-on-year increases of 29% and 28.2%. NEV sales accounted for 47.9% of total new vehicle sales, and domestic NEV sales accounted for 50.8% of total domestic vehicle sales.
New energy vehicle production and sales data are strong, with December sales increasing by 7.2% year-on-year and cumulative sales for the whole year increasing by 28.2%, reaching a market share of 47.9%. This significantly boosts the demand forecast for cobalt. As a key battery material, increased demand will drive up spot prices for cobalt, constituting a major positive factor.
As an integrated internet platform providing benchmark prices, on January 15th, the benchmark price of cobalt according to SunSirs was 456,200.00 RMB/ton, a decrease of 1.28% compared to the beginning of the month (462,100.00 RMB/ton).
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