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Severe pressure to reduce costs

With the gradual decline of national subsidies, domestic power lithium battery companies are facing more severe pressure to reduce prices.

With the gradual decline of national subsidies, domestic power lithium battery companies are facing more severe pressure to reduce prices. It is understood that since 2018, vehicle companies have put forward greater price reduction requirements for power lithium battery companies, generally requiring a cost of about 1.2 yuan/Wh, a decrease of about 25% compared to 2017.

Ouyang Minggao, an academician of the Chinese Academy of Sciences and a professor at Tsinghua University, has publicly stated that the average battery cost targets for China, the United States, and Europe are 1 yuan/Wh, 0.1 US dollars/Wh (approximately RMB 0.69 yuan/Wh), and 0.1 euros/Wh (approximately RMB 0.78 yuan/Wh), respectively. Compared horizontally, the prices of Chinese companies above 1 yuan/Wh are relatively high, and a more ideal goal in the future should be 0.1 US dollars/Wh.

Although CATL has an advantage in cost and price in China, there is still a certain gap compared to foreign giants. According to the report from UBS, the cost of Panasonic batteries produced by TSLA Super Factory is approximately $0.11/Wh (approximately RMB 0.76/Wh), while CATL's battery cost is approximately $0.15/Wh (approximately RMB 1.03/Wh), which is the highest among the four companies. UBS predicts that these four battery manufacturers will have a 70% market share by 2025, and battery costs will decrease by about 10% in the next two to three years.

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