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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 traditional fuel vehicles," said a recent report from an industry conference. This development is seen as a major turning point in the automotive sector.
A well-known domestic industry expert shared his insights at the event, highlighting that while China has made significant structural breakthroughs in power battery technology, there are still challenges. On one hand, Chinese battery technology is now among the best globally, but on the other, there's an overcapacity in the low-end market and insufficient production capacity for high-end products.
He pointed out that the current battery industry is one of the key factors limiting the widespread adoption of new energy vehicles in China. The reasons include misalignment between government policies and battery development, lack of coordination between the automotive and battery sectors, and an immature ecosystem for power batteries. In particular, rising raw material prices have had a negative impact on the industry in recent years.
However, he also emphasized that with continuous technological advancements, the cost of batteries is declining rapidly. Some companies have even claimed that battery system costs could reach 1 yuan per watt-hour within two years. "Achieving a cost of 1 yuan per watt-hour and a specific energy of over 200 watt-hours per kilogram will be crucial in determining the cost-effectiveness of electric vehicles versus fuel vehicles," he added.
Looking ahead, he believes that as technology progresses, upstream material prices will stabilize, policy alignment will improve, and the domestic power battery industry will experience strong growth. He also noted that international demand for power batteries is growing rapidly. With its competitive advantages in technology, production management, and cost control, China’s power battery industry is well-positioned for global expansion in the next 1-2 years, with Europe likely to be a top destination.