India, April 23 -- TrendForce's latest research on the lithium battery industry reveals that surging raw material prices in 1Q26 supported an upward trend in EV battery pricing through March, with average cell prices rising by 1-3% MoM.

Among key products, pouch-type ternary cells increased to CNY 0.59/Wh, while square ternary and LFP cells reached CNY 0.58/Wh and CNY 0.38/Wh, respectively.

In March, ESS cell prices remained stable amid strong market demand. Manufacturers reported full order books and high utilization rates. TrendForce expects this demand momentum to extend into the second quarter, supporting stable pricing in the near term, with potential for modest increases moving forward.

At a recent energy storage exhibitions in B...