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Power battery system cost can be reduced to 1 yuan/Wh in the next 2 years
"In the next 1-2 years, the cost of power batteries could drop to 1 yuan per watt-hour, making electric vehicles more cost-competitive with fuel vehicles. This prediction was recently shared at an industry conference, sparking discussions about the future of the automotive sector."
"A well-known domestic industry expert, who presented this view, highlighted that China has made significant structural breakthroughs in power battery technology. However, there are still challenges. While technical advancements have placed Chinese batteries among the global leaders, there is also a problem of overcapacity in the low-end market and insufficient production capacity for high-end products."
"He pointed out that the current state of power batteries is one of the key factors limiting the widespread adoption of new energy vehicles in China. The reasons include misalignment between auto industry policies and battery development, as well as a lack of coordinated growth between the two sectors. Additionally, the power battery ecosystem hasn't fully matured, and rising raw material prices have further complicated the situation."
"However, he noted that with continuous technological progress, battery costs have been declining rapidly. Some companies predict that battery system costs could reach 1 yuan per watt-hour within two years. Achieving such a milestone, along with specific energy exceeding 200 Wh/kg, will be crucial in determining the cost-effectiveness of electric vehicles versus traditional fuel vehicles."
"The expert also emphasized that as technology advances, upstream material prices are expected to stabilize, and policy alignment with the battery industry will improve. This should lead to strong growth in the domestic power battery sector in the coming years."
"In addition, he believes that international demand for power batteries is growing rapidly. With advantages in technology, production management, and cost control, China's power battery industry is well-positioned to expand globally. Europe, in particular, is seen as a top destination for future international expansion."