The government's subsidy policy for new energy vehicles has a significant impact on the entire supply chain of the industry, especially on core suppliers like power battery manufacturers. As subsidies are gradually reduced and eventually phased out by 2020, companies in the sector must adapt to a more competitive and technology-driven environment.
In 2018, the Ministry of Finance, along with other key departments, introduced revised policies aimed at refining the financial support system for new energy vehicles. These changes moved away from simply basing subsidies on vehicle range and instead incorporated stricter technical criteria, such as battery energy density and energy efficiency. This shift not only raised the bar for eligibility but also reduced the overall subsidy amount, forcing manufacturers to improve both performance and cost-effectiveness.
For power battery companies, this means two critical priorities: first, accelerating technological innovation to meet higher standards, and second, reducing production costs to maintain competitiveness. The long-term goal is to avoid "technology hollowing" and ensure sustainable growth in the domestic new energy vehicle market.
One of the biggest challenges facing the industry is the high cost of new energy vehicles. Even with subsidies, their prices remain higher than traditional fuel cars. To truly expand the market, the cost of these vehicles must become more competitive. For battery manufacturers, this translates into a need for continuous cost optimization and improved product value.
Despite the difficulties, many companies have made progress in reducing battery costs. Over the past few years, the price per unit has dropped by 15% to 20% annually. However, rising raw material prices continue to put pressure on production costs.
Xingheng Power serves as an excellent example of how companies can overcome these challenges. In early 2018, they launched the 26148 series batteries, which use a unique manganese-based cathode system that balances energy density with safety and longevity. These batteries also benefit from Xingheng’s decade-long expertise in design and manufacturing.
To further enhance efficiency and reduce costs, Xingheng invested in a state-of-the-art production line for the 26148 series. This facility incorporates advanced technologies such as high-speed continuous coating and automated die-cutting, significantly improving production efficiency and product quality.
Moreover, the production line features cost-effective processes, including a closed chemical conversion method and an optimized baking system. These innovations help lower manufacturing costs while maintaining high-quality standards.
In conclusion, the path to cost-effective and high-performance power batteries involves not just product innovation, but also improvements in manufacturing and production strategies. Companies like Xingheng demonstrate that through continuous research and development, it is possible to achieve sustainable growth in the new energy vehicle industry. As the market evolves, we will be watching closely to see what other strategies emerge.
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