The energy storage battery industry has overcapacity, but companies are still expanding production against the trend

Although the energy storage battery industry has already seen overcapacity, companies are still continuing to expand their production capacity. For example, Penghui Energy plans to invest RMB 7 billion in a new 21GWh energy storage battery project in Quzhou, Zhejiang, and RMB 300 million in a new large-scale energy storage lithium-ion battery production line in Zhumadian, Henan. In addition, Jiangsu Kunyu Electrochemical Energy Storage Project and Xingheng Power Supply's 4GWh lithium battery project have also started construction.