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Lithium battery industry faces the challenge of comprehensive surplus in 2023
Affected by the factors such as slowing demand and restrictions on overseas expansion, the lithium battery industry is facing the challenge of comprehensive surplus this year, the chairman of Honeycomb Energy said at the 2023 Gaogong Lithium Annual Meeting, according to the Financial Associated Press on November 23. This vicious state may continue until the first quarter of 2024, and it is expected that demand will decrease by 20% month on month in Q1 2024, and it’s expected to usher in a turning point with the pressure of overcapacity gradually easing, and demand will gradually rising in Q2 2024.
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