Global automotive manufacturers are rebalancing short-term capital expenditure plans as consumer demand for fully electric vehicles grows slower than anticipated. Third-quarter EV sales volume grew 11% year-over-year, compared to 38% growth in the corresponding period last year.
Hybrid Demand Resurgence
Plug-in hybrid electric vehicles have emerged as the fastest-growing powertrain segment, recording a 29% increase in unit deliveries. Automakers are expanding hybrid assembly lines to capture consumer demand while charging infrastructure expands.
Supply Chain Adjustments
Battery cell suppliers are adjusting utilization rates downward as vehicle OEMs delay cell procurement contracts. Contract prices for lithium nickel manganese cobalt cells have stabilized around $110 per kilowatt-hour.