Huge Chance for China's Battery Market to Grow, Says Expert
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Ouyang Minggao, an academician of the Chinese Academy of Sciences, speaks at the 2024 World Power Battery Conference in Yibin, Sichuan province, on Sept 1. [Photo provided to chinadaily.com.cn]
China's lithium-ion battery industry is expected to see its production exceed 1 billion kilowatt-hours this year, said Ouyang Minggao, an academician at the Chinese Academy of Sciences, at a recent conference.
Held in Yibin, Sichuan province, earlier this month, the World Power Battery Conference highlighted breakthroughs and key issues in the cutting-edge technology and showed signs of becoming a trendsetter in the global power battery sector.
Ouyang, also a professor at Tsinghua University, said global demand could reach from 3 to 5 billion kWh by 2030, of which at least 2 billion kWh will be from China. Currently, China produces 70 percent of global lithium-ion battery products.
That represents substantial growth potential, with expanding application in EV batteries, energy storage, drones and robots, he said.
However, as the market presents significant opportunities, cost reduction, sustainability and technological innovation must advance in parallel, said Ouyang. (China Daily)
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