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TrendForce has outlined 10 key trends shaping the technology landscape in 2025. Highlights include:
Hon Hai subsidiary Foxconn has recently established Foxconn New Energy Battery (Zhengzhou) Co., Ltd. in Henan, China. The newly formed company will focus on battery manufacturing, sales, and R&D into automotive components. Recent TrendForce investigations reveal that Foxconn's initial approach to solid-state batteries will involve partnerships with other battery manufacturers—starting with lower-complexity manufacturing processes and focusing on building expertise in the two-wheeler market.
The global pursuit and anticipation of applications for solid-state batteries (SSBs) have accelerated the commercialization process of this technology. TrendForce’s latest findings reveal that major manufacturers across the globe, such as Toyota, Nissan, and Samsung SDI have already begun pilot production of all-solid-state batteries. It is estimated that production volumes could have GWh levels by 2027 as these companies race to scale up production.
TrendForce reports that the market for battery metals such as nickel, cobalt, and lithium remained weak in August, with prices for these raw materials continuing to fall. Most notably, the price of lithium spodumene concentrate dropped sharply in August—seeing a 16% quarterly decline—while some lithium concentrate prices fell below US$800/ton.
TrendForce reports that demand for EV cells remained stable in July. However, the continued price decline for cathodes—coupled with falling prices for battery metals such as cobalt, nickel, and particularly copper—led to a reduction in the cost of battery materials and a slight drop in battery cell prices. In July, the prices of EV cells decreased by 2% compared to June. Monthly ASP for square ternary, square LFP, and pouch ternary EV battery cells were CNY 0.48/Wh, 0.41/Wh, and 0.50/Wh, respectively.
