[{"data":1,"prerenderedAt":726},["ShallowReactive",2],{"ticker-data":3,"story-article/china-suggests-no-significant-nev-subsidy-cut-in-2020-but-the-industry-must-prepare-regardless":540},[4,52,82,112,148,186,228,259,296,328,371,412,450,481,510],{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":8,"today":9,"last":10,"percentageChange":11,"yearToDate":12,"yearOnYear":13,"oneYearIndexTrend":14,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-27","2wk","Updated every 2 weeks","Lithium",411.01,408.51,0.61,75.85,175.57,[15,16,18,21,24,27,30,33,36,39,42,45],{"date":5,"value":9},{"date":17,"value":10},"2026-05-13",{"date":19,"value":20},"2026-04-29",372.51,{"date":22,"value":23},"2026-04-15",354.35,{"date":25,"value":26},"2026-04-01",346.55,{"date":28,"value":29},"2026-03-18",351.32,{"date":31,"value":32},"2026-03-04",346.6,{"date":34,"value":35},"2026-02-18",324,{"date":37,"value":38},"2026-02-04",337.67,{"date":40,"value":41},"2026-01-21",298.32,{"date":43,"value":44},"2026-01-07",233.73,{"date":46,"value":47},"2025-12-24",203.79,"/lithium/prices",null,false,true,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":53,"today":54,"last":55,"percentageChange":56,"yearToDate":57,"yearOnYear":58,"oneYearIndexTrend":59,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Carbonate",449.85,451.12,-0.28,77.12,181.56,[60,61,62,64,66,68,70,72,74,76,78,80],{"date":5,"value":54},{"date":17,"value":55},{"date":19,"value":63},404.38,{"date":22,"value":65},381.25,{"date":25,"value":67},371.52,{"date":28,"value":69},373.01,{"date":31,"value":71},366.63,{"date":34,"value":73},349.17,{"date":37,"value":75},356.81,{"date":40,"value":77},316.73,{"date":43,"value":79},253.98,{"date":46,"value":81},220.12,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":83,"today":84,"last":85,"percentageChange":86,"yearToDate":87,"yearOnYear":88,"oneYearIndexTrend":89,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Hydroxide",358.35,350.28,2.3,76.32,168.94,[90,91,92,94,96,98,100,102,104,106,108,110],{"date":5,"value":84},{"date":17,"value":85},{"date":19,"value":93},328.09,{"date":22,"value":95},316.95,{"date":25,"value":97},311.86,{"date":28,"value":99},321.41,{"date":31,"value":101},319.14,{"date":34,"value":103},295.42,{"date":37,"value":105},310,{"date":40,"value":107},270.4,{"date":43,"value":109},203.24,{"date":46,"value":111},177.17,{"publishedDate":19,"updateFrequency":113,"updateFrequencyText":114,"label":115,"today":116,"last":117,"percentageChange":118,"yearToDate":119,"yearOnYear":120,"oneYearIndexTrend":121,"url":147,"subscription":49,"isProtected":50,"hasAccess":51},"1wk","Updated every week","Cobalt",244.61,252.61,-3.17,3.99,97.72,[122,123,124,127,129,132,133,136,138,141,143,146],{"date":19,"value":116},{"date":25,"value":117},{"date":125,"value":126},"2026-03-25",252.45,{"date":28,"value":128},252.84,{"date":130,"value":131},"2026-03-11",253.48,{"date":31,"value":126},{"date":134,"value":135},"2026-02-25",256.64,{"date":34,"value":137},255.58,{"date":139,"value":140},"2026-02-11",253.31,{"date":37,"value":142},252.26,{"date":144,"value":145},"2026-01-28",241.15,{"date":40,"value":145},"/cobalt/prices",{"publishedDate":149,"updateFrequency":6,"updateFrequencyText":7,"label":150,"today":151,"last":152,"percentageChange":153,"yearToDate":154,"yearOnYear":155,"oneYearIndexTrend":156,"url":185,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-20","Nickel",135.83,133.05,2.09,12.5,30.68,[157,158,160,163,166,168,170,172,174,176,179,182],{"date":149,"value":151},{"date":159,"value":152},"2026-05-06",{"date":161,"value":162},"2026-04-22",125.43,{"date":164,"value":165},"2026-04-08",124.51,{"date":125,"value":167},123.94,{"date":130,"value":169},123.51,{"date":134,"value":171},122.7,{"date":139,"value":173},123.79,{"date":144,"value":175},128.07,{"date":177,"value":178},"2026-01-14",120.74,{"date":180,"value":181},"2025-12-31",104.29,{"date":183,"value":184},"2025-12-17",103.44,"/nickel/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":189,"today":190,"last":191,"percentageChange":192,"yearToDate":193,"yearOnYear":194,"oneYearIndexTrend":195,"url":227,"subscription":49,"isProtected":50,"hasAccess":51},"2026-04-30","monthly","Natural Graphite",82.93,82.39,0.66,1.66,-0.87,[196,197,199,202,205,207,210,212,215,218,221,224],{"date":187,"value":190},{"date":198,"value":191},"2026-03-31",{"date":200,"value":201},"2026-02-27",81.92,{"date":203,"value":204},"2026-01-30",81.69,{"date":180,"value":206},81.58,{"date":208,"value":209},"2025-11-28",81.35,{"date":211,"value":209},"2025-10-31",{"date":213,"value":214},"2025-09-30",81.74,{"date":216,"value":217},"2025-08-29",81.56,{"date":219,"value":220},"2025-07-31",82.47,{"date":222,"value":223},"2025-06-30",83.13,{"date":225,"value":226},"2025-05-30",83.77,"/natural-graphite/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":229,"today":230,"last":231,"percentageChange":232,"yearToDate":233,"yearOnYear":234,"oneYearIndexTrend":235,"url":258,"subscription":49,"isProtected":50,"hasAccess":51},"Anode Coke",84.01,79.79,5.29,12.86,12.75,[236,237,238,240,242,244,246,248,250,252,254,256],{"date":187,"value":230},{"date":198,"value":231},{"date":200,"value":239},75.72,{"date":203,"value":241},74.61,{"date":180,"value":243},74.44,{"date":208,"value":245},76,{"date":211,"value":247},72.75,{"date":213,"value":249},71.92,{"date":216,"value":251},71.46,{"date":219,"value":253},70.35,{"date":222,"value":255},67.35,{"date":225,"value":257},65.78,"/synthetic-graphite/prices",{"publishedDate":260,"updateFrequency":188,"updateFrequencyText":188,"label":261,"today":262,"last":263,"percentageChange":264,"yearToDate":265,"yearOnYear":265,"oneYearIndexTrend":266,"url":295,"subscription":49,"isProtected":50,"hasAccess":51},"2025-11-17","Anode",77.79,77.96,-0.22,-1.93,[267,268,270,272,274,277,280,282,284,287,290,292],{"date":260,"value":262},{"date":269,"value":263},"2025-10-15",{"date":271,"value":263},"2025-09-15",{"date":273,"value":263},"2025-08-15",{"date":275,"value":276},"2025-07-15",77.93,{"date":278,"value":279},"2025-06-16",78.88,{"date":281,"value":279},"2025-05-15",{"date":283,"value":279},"2025-04-15",{"date":285,"value":286},"2025-03-17",79.89,{"date":288,"value":289},"2025-02-17",78.97,{"date":291,"value":289},"2025-01-15",{"date":293,"value":294},"2024-12-16",79.32,"/anode/prices",{"publishedDate":297,"updateFrequency":188,"updateFrequencyText":188,"label":298,"today":299,"last":300,"percentageChange":301,"yearToDate":301,"yearOnYear":302,"oneYearIndexTrend":303,"url":327,"subscription":49,"isProtected":50,"hasAccess":51},"2026-01-15","Cathode",72.79,64.08,13.59,43.38,[304,305,307,309,311,313,315,317,318,320,322,325],{"date":297,"value":299},{"date":306,"value":300},"2025-12-15",{"date":260,"value":308},62.01,{"date":269,"value":310},53.51,{"date":271,"value":312},49.5,{"date":273,"value":314},47.28,{"date":275,"value":316},46.05,{"date":278,"value":316},{"date":281,"value":319},48.08,{"date":283,"value":321},48.92,{"date":323,"value":324},"2025-03-18",52.79,{"date":288,"value":326},50.86,"/cathode/prices",{"publishedDate":329,"updateFrequency":188,"updateFrequencyText":188,"label":330,"today":331,"last":332,"percentageChange":333,"yearToDate":334,"yearOnYear":335,"oneYearIndexTrend":336,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"2025-03-31","Lithium ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[337,338,340,343,346,349,352,355,358,361,364,367],{"date":329,"value":331},{"date":339,"value":332},"2025-02-28",{"date":341,"value":342},"2025-01-31",71.45,{"date":344,"value":345},"2024-12-31",75.74,{"date":347,"value":348},"2024-11-29",76.98,{"date":350,"value":351},"2024-10-31",77.34,{"date":353,"value":354},"2024-09-30",77.43,{"date":356,"value":357},"2024-08-30",80.56,{"date":359,"value":360},"2024-07-31",82.99,{"date":362,"value":363},"2024-06-28",87.2,{"date":365,"value":366},"2024-05-31",90.7,{"date":368,"value":369},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":372,"updateFrequency":6,"updateFrequencyText":7,"label":373,"today":374,"last":375,"percentageChange":376,"yearToDate":377,"yearOnYear":378,"oneYearIndexTrend":379,"url":411,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-21","Black Mass",54.15,51.47,5.21,25.5,92.33,[380,381,383,386,389,392,395,398,401,404,406,408],{"date":372,"value":374},{"date":382,"value":375},"2026-05-07",{"date":384,"value":385},"2026-04-23",48.63,{"date":387,"value":388},"2026-04-09",48.6,{"date":390,"value":391},"2026-03-26",47.29,{"date":393,"value":394},"2026-03-12",46.18,{"date":396,"value":397},"2026-02-26",45.8,{"date":399,"value":400},"2026-02-12",47.34,{"date":402,"value":403},"2026-01-29",49.57,{"date":297,"value":405},43.15,{"date":180,"value":407},47.05,{"date":409,"value":410},"2025-12-18",41.51,"/recycling/black-mass-prices",{"publishedDate":413,"updateFrequency":188,"updateFrequencyText":188,"label":414,"today":415,"last":416,"percentageChange":417,"yearToDate":418,"yearOnYear":419,"oneYearIndexTrend":420,"url":449,"subscription":49,"isProtected":50,"hasAccess":51},"2026-03-19","Rare Earths",172.27,182.38,-5.54,20.73,54.49,[421,422,424,427,430,432,435,437,440,443,445,447],{"date":413,"value":415},{"date":423,"value":416},"2026-03-05",{"date":425,"value":426},"2026-02-19",179.86,{"date":428,"value":429},"2026-02-05",155.4,{"date":431,"value":429},"2026-01-22",{"date":433,"value":434},"2026-01-08",145.37,{"date":46,"value":436},142.69,{"date":438,"value":439},"2025-12-11",141.67,{"date":441,"value":442},"2025-11-27",136.29,{"date":211,"value":444},132.15,{"date":213,"value":446},139.82,{"date":216,"value":448},145.27,"/rare-earths/prices",{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":451,"today":452,"last":453,"percentageChange":454,"yearToDate":455,"yearOnYear":456,"oneYearIndexTrend":457,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",111.93,124.92,-10.4,-2.67,-3.42,[458,459,460,462,464,466,469,471,473,475,477,479],{"date":213,"value":452},{"date":216,"value":453},{"date":219,"value":461},109.9,{"date":222,"value":463},100.47,{"date":225,"value":465},103.62,{"date":467,"value":468},"2025-04-30",109.47,{"date":329,"value":470},115.87,{"date":339,"value":472},117.3,{"date":341,"value":474},114.57,{"date":344,"value":476},115,{"date":347,"value":478},117.82,{"date":350,"value":480},111.9,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":482,"today":483,"last":484,"percentageChange":485,"yearToDate":486,"yearOnYear":487,"oneYearIndexTrend":488,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM High-Nickel",99.44,96.91,2.61,2.37,-3.84,[489,490,491,493,495,497,499,501,503,505,506,508],{"date":213,"value":483},{"date":216,"value":484},{"date":219,"value":492},97.09,{"date":222,"value":494},94.93,{"date":225,"value":496},97.13,{"date":467,"value":498},97.89,{"date":329,"value":500},101.4,{"date":339,"value":502},93.25,{"date":341,"value":504},98.94,{"date":344,"value":496},{"date":347,"value":507},98.69,{"date":350,"value":509},101.87,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":511,"today":512,"last":513,"percentageChange":514,"yearToDate":515,"yearOnYear":516,"oneYearIndexTrend":517,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":724,"relatedVideos":725},112474215116143,"19a96712-e770-46bb-9cd9-0138c3a4c419","China suggests no significant NEV subsidy cut in 2020, but the industry must prepare regardless","china-suggests-no-significant-nev-subsidy-cut-in-2020-but-the-industry-must-prepare-regardless","article/china-suggests-no-significant-nev-subsidy-cut-in-2020-but-the-industry-must-prepare-regardless",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":702,"featured":50,"reporter":703,"_editable":707,"component":708,"seo_title":543,"categories":709,"visibility":716,"author_company":49,"featured_image":717,"seo_description":702,"author_full_name":49,"author_job_title":49,"formattedDate":722,"formattedArticleDate":723},"a4d36844-09d7-4121-aa98-050a5fb06c81","2020-01-14 00:00",[550],{"slug":551,"name":552},"china","China",[554],{"slug":555,"name":556,"content":557},"didi-bostock","Didi Bostock",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Editor - Energy Transition & Economics",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":564,"content":565},"doc",[566,573,578,581,586,591,596,601,606,613,618,627,634,643,652,657,665,677,690],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570],{"text":571,"type":572},"Having slashed subsidies in July 2019, this week Miao Wei from China’s Ministry of Industry and Information Technology (MIIT) indicated that the ministry would not make a significant reduction in NEV subsidies during 2020. However, it is important to note that this does not represent official policy, which has yet to be confirmed.","text",{"type":567,"attrs":574,"content":575},{"textAlign":49},[576],{"text":577,"type":572},"NEV subsidies in China have been steadily reduced since 2016. The table below shows the reductions made from 2017 to 2019, when the latest subsidy cuts came into effect.",{"type":567,"attrs":579,"content":580},{"textAlign":49},[],{"type":567,"attrs":582,"content":583},{"textAlign":49},[584],{"text":585,"type":572},"The July 2019 reduction had an immediate effect on electric vehicle sales in China, which saw falls in year-on-year sales in July and August when compared with 2018.",{"type":567,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":572},"Benchmark Minerals’ Senior Analyst for China, Albert Li, explains the significance of this announcement: “China NEV sales in 2019 dropped 4%, which is the first time we’ve seen a fall since China began to promote the NEV industry. The latest subsidy announcement from a government official – though not a completely official government announcement – still boosts confidence across the whole NEV industrial chain.”",{"type":567,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":572},"Li added, “meanwhile, the industry knows that the subsidy will be removed completely sooner or later, and companies in the supply chain are therefore focused on technical advancements, rather than falling back on the subsidy programme in order to survive in the fiercely competitive Chinese market.”",{"type":567,"attrs":597,"content":598},{"textAlign":49},[599],{"text":600,"type":572},"As 2019 data is being released, both at the company and state-wide level, it has become increasingly evident that China’s EV industry struggled last year. Established companies such as BYD and BAIC have struggled relative to previous years, with the former reporting 229,506 NEV sales during 2019, down 7.39% on 2018, and the latter reporting NEV sales of 150,600, down 4.69% for the year before.",{"type":567,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":572},"Li also commented on the Chinese government’s wider EV strategy: “In time, the official subsidy policy will be announced. The Chinese government’s target remains to ensure the NEV industry’s healthy and sustainable development, and also more importantly to dominate the global NEV industry high-ground. China wants to capitalise on an auto market where each country comes from effectively the same starting point, in contrast to traditional car production where Europe and the US already dominate.”",{"type":607,"attrs":608,"content":610},"heading",{"level":609,"textAlign":49},6,[611],{"text":612,"type":572},"What does this mean for the upstream? ",{"type":567,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":572},"“For the entire Chinese supply chain, this leading position in EV production is critical. This latest news boosts the confidence in the industry across the supply chain, but at the same time stakeholders understand that they can’t rely on the NEV subsidy to survive. They need technological advancement at their core – improving material and battery performance – to maintain competitiveness.”",{"type":567,"attrs":619,"content":620},{"textAlign":49},[621,623,625],{"text":622,"type":572},"The NEV subsidy programme has also allowed China’s value chain to build up to a dominant position internationally as the latest ",{"text":624,"type":572},"Benchmark Minerals",{"text":626,"type":572}," data on the supply chain shows.",{"type":567,"attrs":628,"content":629},{"textAlign":49},[630,632],{"text":631,"type":572},"The country is seeing a massive supply chain expansion to feed the country’s 83 lithium ion battery megafactories in the pipeline, which are set to have a production capacity of 1,526 GWh in 2029, according to the latest data from the ",{"text":633,"type":572},"Benchmark Minerals Lithium Ion Battery Megafactory Assessment.",{"type":567,"attrs":635,"content":636},{"textAlign":49},[637,639,641],{"text":638,"type":572},"Currently, China accounts for approximately 74% of cathode capacity globally. China is also leading cathode production expansions worldwide; it is responsible for 91% of cathode capacity in construction and 85% of planned capacity according to the ",{"text":640,"type":572},"Benchmark Minerals Cathode Market Assessment",{"text":642,"type":572},".",{"type":567,"attrs":644,"content":645},{"textAlign":49},[646,648,650],{"text":647,"type":572},"The strength of China’s anode supply chain mirrors this; data from the ",{"text":649,"type":572},"Benchmark Minerals Anode Market Assessment ",{"text":651,"type":572},"show the country accounting for 79% of existing capacity, 92% of capacity in construction and 96% of anode capacity in the planning phase.",{"type":567,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":572},"The official announcement on the government’s subsidy position for 2020 will provide more colour, but regardless of this the Chinese industry is preparing itself for a future without subsidies.",{"type":607,"attrs":658,"content":659},{"level":609,"textAlign":49},[660],{"text":661,"type":572,"marks":662},"Sources",[663],{"type":664},"italic",{"type":567,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":572,"marks":670},"Benchmark Minerals Lithium Ion Battery Megafactory Assessment",[671,676],{"type":672,"attrs":673},"link",{"href":674,"uuid":49,"anchor":49,"target":49,"linktype":675},"https://www.benchmarkminerals.com/megafactories/","url",{"type":664},{"type":567,"attrs":678,"content":679},{"textAlign":49},[680,686],{"text":640,"type":572,"marks":681},[682,685],{"type":672,"attrs":683},{"href":684,"uuid":49,"anchor":49,"target":49,"linktype":675},"https://www.benchmarkminerals.com/contact/",{"type":664},{"text":687,"type":572,"marks":688}," (contact form)",[689],{"type":664},{"type":567,"attrs":691,"content":692},{"textAlign":49},[693,699],{"text":694,"type":572,"marks":695},"Benchmark Minerals Anode Market Assessment",[696,698],{"type":672,"attrs":697},{"href":684,"uuid":49,"anchor":49,"target":49,"linktype":675},{"type":664},{"text":687,"type":572,"marks":700},[701],{"type":664},"Having slashed subsidies in July 2019, this week Miao Wei from China’s Ministry of Industry and Information Technology (MIIT) indicated that the ministry would not make a significant reduction in NEV subsidies during 2020. However, it is important to note that this does not represent official policy, which has yet to be confirmed. NEV subsidies […]",[704],{"slug":555,"name":556,"content":705},{"job_title":558,"image":706,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"a4d36844-09d7-4121-aa98-050a5fb06c81\", \"id\": \"\"}-->","article",[710,713],{"slug":711,"name":712},"batteries","Batteries",{"slug":714,"name":715},"critical-minerals","Critical Minerals","private",{"id":49,"alt":718,"name":718,"focus":718,"title":718,"source":718,"filename":719,"copyright":718,"fieldtype":720,"meta_data":721,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/fba4ed660c/bm-16944874090-d467d843c4-k-e1579013500422.jpg","asset",{"alt":718,"title":718,"source":718,"copyright":718},"Jan 14, 2020","14th January 2020",[],[],1780500993659]