The recent 2024 World Power Battery Conference held in Yibin, Sichuan Province, attracted numerous experts and guests from around the globe, all eager to delve into the evolving dynamics of the power battery industryWith the striking theme "New Energy Power, Creating a Green Future," the conference served as a melting pot for discussions about high-quality development of the global supply chain, cutting-edge battery technologies, and the pressing focus on green energy initiatives in a rapidly changing world.

The increase in China's power battery market this year is noteworthyAnalysis from the China Automotive Power Battery Industry Innovation Alliance reveals that from January to July, the sales of power batteries soared to 380.3 GWh, marking an impressive year-on-year growth of 25.3%. This surge includes a noteworthy export volume of 69.6 GWh, reflecting a growth of 5.2%. The evidence points to a thriving industry that continues to evolve and adapt to global demands.

The conference featured an array of exhibits showcasing innovations in both the upstream and downstream sectors of the power battery supply chain

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Attendees were treated to displays of state-of-the-art technologies, from electric tools to advancements in low-altitude economic applications, exemplifying the broadening scope of battery usage across diverse sectorsChina's power battery industry has undergone a remarkable transformation, evolving from humble beginnings to a leading player in the global market.

Highlighting the remarkable achievements of Chinese companies, Qu Guochun, Director of the Equipment Industry Development Center at the Ministry of Industry and Information Technology, reported that the global market share of Chinese power battery enterprises has shown a steady ascent, escalating from 48.8% in 2021 to an impressive 62.9% by 2023. This constant increase underscores the relentless innovation and competitive advantages Chinese firms are gaining in international markets.

As advancements are made within the power battery sector, the improved performance and enhanced affordability of electric vehicles position China at the forefront of the global new energy vehicle (NEV) landscape

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The Chinese government's strategic emphasis on green, low-carbon growth underscores its commitment to transforming the automotive industryAccording to Xiong Jijun, Vice Minister of the Ministry of Industry and Information Technology, China has constructed a comprehensive industrial system that encompasses essential materials—like anode and cathode materials, electrolytes, and separators—while cultivating competitive enterprises within this sphere.

Moreover, the conversation during the conference revealed a consensus among industry leaders regarding the need for lower costs, sustainable practices, and technological innovation to flourish simultaneously in the new energy marketThis nexus of ideas is essential for addressing current market challenges.

Notable speakers included Meng Xiangfeng, Vice President of Contemporary Amperex Technology Co., Ltd(CATL), who emphasized the substantial improvements in lithium battery performance driven by the rise of NEVs

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He noted a trend towards extending applications into fields like electric shipping, aviation, and construction machineryWith ongoing technological enhancements and process refinements, the potential for cost reduction remains compelling, thereby widening applicability for solutions powered by lithium-ion technologySimilarly, Sun Huajun, Chief Technology Officer of BYD Battery Group, echoed this sentiment, asserting that advancements in manufacturing processes and critical technologies will continue to reduce battery costs.

In a fiercely competitive landscape, the discourse also turned towards strategies for effectively reducing expensesYang Hongxin, Chairman and CEO of Hive Energy Technology Co., highlighted the importance of not only materials but also process efficiency and battery form factors in driving down manufacturing costsThis holistic approach to cost management could provide a competitive edge, especially as the global automotive market adapts to emerging technologies.

The discussion expanded into the realm of solid-state batteries, a technology considered the "next generation" of power sources

Experts such as Ouyang Minggao, an academician at the Chinese Academy of Sciences, underscored the potential of this innovation while stressing that significant breakthroughs in electrolyte, anode, and cathode materials are imperative for successThe integration of artificial intelligence in streamlining these development processes was recognized as a critical step forwardMany industry leaders present—like Yang and Sun—emphasized the necessity for existing and new players to collaborate effectively to develop the solid-state battery ecosystem.

The discourse surrounding circular economy practices related to batteries was equally crucial, given that the transition to new energy does not solely negate carbon emissions throughout a battery's life cycleWith China generating over 580,000 tons of retired power batteries in 2023 alone, a renewed emphasis on recycling and resource recovery was regarded as essential for fostering environmental sustainability

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Liu Jincheng, Chairman of Huizhou Jicheng Lithium Energy Co., acknowledged that the growing quantity of retired lithium-ion batteries, particularly those utilizing iron phosphate technology, warrants focused recovery efforts.

The idea of establishing standards for carbon footprint management holds significant weight in ensuring accountability in supply chainsThis imperative stems from a broader global commitment to achieving carbon neutrality, transforming how industries engage with their environmental responsibilitiesSun Huajun called for the development of a comprehensive standard management system that evaluates a battery's full life cycle, necessitating collaboration across the battery manufacturing and recycling landscape.

Concluding the conference, the conversations highlighted both the ambitious trajectory and inherent challenges facing the power battery sector as it navigates the demands of sustainability and technological advancements