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January brought two major changes to the Chinese market. EVs became subject to purchase tax for the first time since 2014. Although EVs are not yet subject to the standard 10% purchase tax rate levied on internal combustion engine vehicles, with most EVs facing a purchase tax of 5%. ",[604],{"type":605,"attrs":606},"textStyle",{"color":607},"black",{"type":563,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":568,"marks":613},"China’s trade-in scheme became proportional for 2026, as opposed to the flat-rate subsidy applied in 2025. Consequently, average subsidy levels will be lower in 2026 than in 2025, with price reductions for smaller EVs no longer as significant.",[614],{"type":605,"attrs":615},{"color":607},{"type":617,"attrs":618},"blok",{"id":619,"body":620},"858cf747-2f46-4c0c-96f1-a65479ccf034",[621],{"id":622,"_uid":623,"type":624,"component":625,"fixed_height":626,"use_fixed_height":50,"fixed_height_mobile":626,"fixed_height_tablet":626},"26889747","i-cd5547f5-c322-492c-abca-b515cafc2244","visualisation","ContentFlourish","",{"type":563,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":568},"China’s battery demand dropped significantly in January of this year, as it did in the same month of 2025. Total BESS demand for the month was 8.5GWh, lower than the 11.0GWh in January 2025, while passenger vehicle demand dropped by more than half from its 2025 peak of 84.0GWh in December to 37.62GWh.",{"type":617,"attrs":633},{"id":619,"body":634},[635],{"id":636,"_uid":637,"type":624,"component":625,"fixed_height":626,"use_fixed_height":50,"fixed_height_mobile":626,"fixed_height_tablet":626},"26889755","i-54311456-d308-4b6d-a7f6-3e435118c223",{"type":563,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":568},"China’s lithium-ion battery (LFP and NCM/NCA) production totalled 168GWh in January which, while representing a drop from the December 201.7GWh figure, was a 56% improvement year-on-year.",{"type":563,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":568},"LFP's share of production ticked up from 80% to 81% of production in January, continuing its steady increase compared with NCM/NCA after it rose from 74% over 2024 to 79% in 2025.",{"type":617,"attrs":649},{"id":619,"body":650},[651],{"id":652,"_uid":653,"type":654,"component":625,"fixed_height":626,"use_fixed_height":50,"fixed_height_mobile":626,"fixed_height_tablet":626},"3610308","i-42c2b7c2-8369-45c8-823b-1096e5c20cfe","story",{"type":592,"attrs":656,"content":657},{"level":594,"textAlign":49},[658],{"text":659,"type":568,"marks":660},"China: EV battery supply chain trade dynamics",[661],{"type":573},{"type":617,"attrs":663},{"id":619,"body":664},[665,668],{"id":666,"_uid":667,"type":654,"component":625,"fixed_height":626,"use_fixed_height":50,"fixed_height_mobile":626,"fixed_height_tablet":626},"3514039","i-097462f6-6c56-4fb7-bdd8-cbc4f8cf7886",{"id":669,"_uid":670,"type":654,"component":625,"fixed_height":626,"use_fixed_height":50,"fixed_height_mobile":626,"fixed_height_tablet":626},"3514038","i-78e9cf1e-999b-4078-9c60-a9c61b1e24e3","Welcome to the Benchmark China Briefing. This briefing, part of the Benchmark Source subscription, provides a monthly deep-dive on key developments in China. 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