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2025-09-17 10:22:36
Zeng Yuqun: The energy storage industry's price war has spread overseas, causing energy storage companies' gross profit margins to shrink rapidly. At the 2025 World Energy Storage Conference, Zeng Yuqun, founder and chairman of Contemporary Amperex Technology (CATL), stated that the price of energy storage systems had fallen by approximately 80% over the past three years, and that this had now increased by 20%. The winning bid for a recent centralized procurement project was even 0.4 yuan/Wh below cost, significantly deviating from the original cost. The inevitable reduction in production and fees due to these aggressively low prices has created quality and safety risks for the industry. He pointed out that this year's price war has spread overseas, not only causing a rapid decline in the gross profit margins of energy storage companies, but also that the gains are not worth the losses. "We have worked so hard to develop advantageous industries in China, but we are about to face competition within ourselves and then be swept away by foreign competition."
