CATL, the West-East Hydrogen Transmission Project has been fully launched. Will it have a significant negative impact on traditional high-energy-consuming lithium battery manufacturers? Once hydrogen energy is first covered in the public transportation field, will it be a suppression of power batteries? At present, Yutong Bus has completely covered 70% of its models in some areas of Zhejiang Province with direct liquid hydrogen as a power energy source. Will it have a negative impact on the demand for lithium batteries in the passenger car market? It is said on the Internet that thousands of h

CATL: Dear investors, hydrogen has a very low volume energy density at room temperature, and storage requires high-pressure tanks. Energy is converted by first converting electrical energy into hydrogen, and then converting it into electrical energy through hydrogen combustion. This involves many infrastructures, a large area, and low conversion efficiency. The work is relatively complicated and the cost is relatively high. We believe that electrochemical batteries have more cost advantages than lithium batteries and sodium batteries when the material prices are appropriate. Thank you for your attention.