Onvo

China EVs: Triple Launch Meets Battery Cost Squeeze

China’s EV market is entering a crucial new phase as Li Auto, Onvo, and Huawei-backed Luxeed launch three flagship models on May 15, showcasing technologies such as by-wire chassis systems, 900V platforms, battery swapping, and rear-wheel steering. But behind the product excitement, rising LFP battery prices—up from roughly RMB 30,000 to RMB 60,000 per ton in a year—are creating fresh cost pressure that could push EV prices higher across the market.