Dongfeng Motor has achieved its target of selling 1 million new energy vehicles (NEV) in 2025, underscoring the rapid scale-up of its electrification strategy.

Dongfeng Motor hits annual NEV sales of 1 million vehicles

The following models stand out as some of the year's most representative launches, offering a clear snapshot of where the market is headed.

2025 Chinese NEV roundup: A look at the year's most significant launches

According to incomplete statistics, as of December 26, nine steel mills have announced winter stockpiling policies for 2026, including four in Northwest China, three in North China, and two in Northeast China. 

The 2026 Winter Stockpiling Policy Remains Unfinished, with a Concentrated Winter Stockpiling Period Expected in Mid-to-Late January

Today, iron ore futures traded weakly in the morning but experienced a sharp rally during the micro session. The main contract I2605 closed at 783, a slight increase of 0.71% compared to the previous trading day. 

MMi Daily Iron Ore Report (December 26)

December 26 news:  
Northern ports: South African high-iron at 30-30.5 yuan/mtu, flat WoW; South African semi-carbonate at 34-34.5 yuan/mtu, flat WoW; Gabon at 41.9-43.5 yuan/mtu, flat WoW; Australian lumps at 41-41.7 yuan/mtu, flat WoW; South African medium-iron at 37.1-37.6 yuan/mtu, up 0.54% WoW.  
Southern ports: South African high-iron at 30.3-30.8 yuan/mtu, flat WoW; South African semi-carbonate at 35.7-36.4 yuan/mtu, flat WoW; Gabon at 41.1-42 yuan/mtu, flat WoW; Australian lumps at 41.5-42.2 yuan/mtu, flat WoW; South African medium-iron at 37.2-37.7 yuan/mtu, up 0.27% WoW.  
The manganese ore market is consolidating at high levels, with cost support from the supply side and regional divergence in demand creating a tug-of-war.

[SMM Manganese Ore Weekly Review] Strong Support from the Supply Side, Manganese Ore Prices Consolidate at High Levels

[Haike Xinyuan: Signed a 270,000 mt Electrolyte Solvent and Additive Supply Agreement with Fineward  
Haike Xinyuan announced that the company signed the "Strategic Cooperation and Raw Material Supply Agreement" with Hunan Fineward New Energy Technology Co., Ltd. on December 24, 2025. The agreement stipulates that during the term of the agreement (from January 1, 2026, to December 31, 2028), Fineward will purchase 270,000 mt of electrolyte solvent and additive from Haike Xinyuan. The actual purchase quantity of the products will be subject to the orders confirmed by both parties. 

Haike Xinyuan Inks 270,000 mt Electrolyte Supply Pact with Fineward in 2025

[CNGR: Signed Solid-State Battery Strategic Cooperation Framework Agreement with Sunwoda]
CNGR announced that the company and SEVB signed the "Solid-State Battery Strategic Cooperation Framework Agreement" on December 25, 2025. The two parties will carry out all-round strategic cooperation in areas such as precursor product technology development, product supply, cathode material development, and global capacity layout, jointly develop new energy battery materials for solid-state battery application series, and promote their industrialisation. 

CNGR and Sunwoda Sign Strategic Cooperation Framework Agreement on Solid-State Batteries

[National Development and Reform Commission (NDRC): For the PV, Lithium-Ion Battery and NEV Industries, the Key Lies in Regulating Order and Leading Through Innovation] The National Development and Reform Commission published an article titled "Vigorously Promoting the Optimization and Upgrading of Traditional Industries." The article pointed out that for the PV, lithium-ion battery and NEV industries, the key lies in regulating order and leading through innovation. During the 15th Five-Year Plan period, it is necessary to comprehensively address "involution-style" competition, maintain a fair competitive environment, enhance industry concentration, and establish a globally leading technological highland. The order of market competition should be standardized by thoroughly implementing the fair competition review system, strengthening price monitoring and quality inspections to prevent disorderly low-price competition. Supply chain governance should be enhanced to ensure payments to small and medium-sized enterprises, fostering a mutually beneficial and win-win ecosystem within the industry. Efforts to boost technological innovation should be intensified to consolidate the leading technological advantage. Macro-control should be strengthened, adhering to market-oriented and rule-of-law measures to phase out outdated and inefficient capacity. 

NDRC: Regulate Order & Innovate for PV, Battery, NEV Industries

Amidst the recovery in demand for the lithium battery industry, LFP material enterprises are operating their production lines at full capacity, and multiple LFP material projects are making new progress.
Recently, the Pengshan District Government website of Meishan City published the "Environmental Impact Post-Evaluation Report for the CALB Material Technology (Sichuan) Co., Ltd. CALB Lithium Battery Cathode Material Project." The project, located at No. 1 West Hexi Road, Sichuan Pengshan Economic Development Zone, Meishan City, Sichuan Province, has a total investment of 1.8 billion yuan. It is invested and built by CALB Material Technology (Sichuan) Co., Ltd. to meet the market demand for high-end LFP materials.


[SMM Flash News] New Developments in 100,000 mt LFP Project in Meishan, Sichuan

In recent weeks, the White House has held high-level meetings regarding the battery supply chain. The National Energy Dominance Council has been meeting with battery companies to coordinate energy policy. The Department of Energy has quietly approved multiple grants for battery manufacturers that originated during the Biden administration. Additionally, the department recently announced it will provide up to $500 million in funding for battery materials and recycling projects.

[SMM PV News] Trump Administration Pushes for Battery Industry Subsidies

LG Energy Solution has recently unified its battery production organization as part of a broader corporate restructuring, signaling a stronger strategic focus on energy storage systems (ESS). Previously, separate production teams operated under the automotive battery, small battery, and ESS battery divisions. These have now been consolidated into a single organization overseeing battery production across all three business units.

LG Energy Solution Unifies Battery Production Organization, Pivots Toward ESS

POSCO Future M announced on the 24th that it has signed a joint venture agreement with China’s CNGR and CNGR’s Korean subsidiary, Fino, to produce lithium iron phosphate (LFP) cathode materials.

Under the agreement, POSCO Future M plans to build an LFP cathode materials plant at the Yeongilman 4th General Industrial Complex in Pohang, North Gyeongsang Province. Construction is scheduled to begin in 2026, with mass production targeted for 2027. Starting with this investment, the company aims to expand annual production capacity to up to 50,000 tons.

POSCO Future M Forms LFP Cathode Joint Venture with CNGR, Plans 50,000 t/y Plant in Pohang

[SMM Daily Review: Spot Lithium Carbonate Prices Continue to Rise on December 25]
The SMM battery-grade lithium carbonate index stood at 105,138 yuan/mt, up 3,854 yuan/mt from the previous working day. Battery-grade lithium carbonate was priced at 97,800-112,000 yuan/mt, with an average of 104,900 yuan/mt, up 3,400 yuan/mt MoM. Industrial-grade lithium carbonate was priced at 97,500-107,000 yuan/mt, with an average of 102,250 yuan/mt, up 3,400 yuan/mt from the previous working day.
Currently, both upstream and downstream players primarily rely on long-term agreements and customer-supplied materials. Amid the sustained sharp increase in spot prices, downstream buyers maintain cautious just-in-time procurement and adjust their purchasing pace based on next month's production schedule. Most upstream lithium chemical plants focus on fulfilling long-term agreements, with few spot orders concluded. Overall trading activity in the spot lithium carbonate market remains limited. 

SMM Daily Review: Spot Lithium Carbonate Prices Surge on Dec 25, Trading Activity Stays Low

[State Post Bureau: Postal Industry's PV Panel Coverage Area Reaches 4.48 Million m², Ownership of New Energy and Clean Energy Vehicles Exceeds 75,000 Units]
The State Post Bureau held a press conference, where relevant officials stated that during the 14th Five-Year Plan period, modern information technologies such as artificial intelligence, mobile internet, and cloud computing have reshaped the operational organization models and workflow processes of the express delivery industry, enhancing the momentum for green and low-carbon development. Distribution centers have achieved intelligent scheduling, visual tracking, and information-based management, with accelerated implementation of PV power generation, intelligent sorting, intelligent security checks, and unmanned warehouses, leading to rapid improvements in informatization and intelligence levels. Hydrogen energy and clean energy vehicles have been widely adopted. Currently, the postal industry's PV panel coverage area has reached 4.48 million m², the number of green distribution centers exceeds 1,000, green outlets exceed 12,500, and the ownership of new energy and clean energy vehicles surpasses 75,000 units. 

State Post Bureau: Postal Industry Achieves 4.48 Million m² PV Coverage, Over 75,000 Clean Energy Vehicles

Sichuan Xiangyuan New Energy Co., Ltd. (referred to as "Xiangyuan New Energy") has entered the final sprint stage for its cylindrical lithium battery production project. The project is advancing simultaneously with exterior wall painting, landscaping, interior decoration, and equipment installation. Phase one of the project is scheduled to be completed and enter trial production in January 2026.


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