CATL founder Zeng Yuqun discusses price competition in the energy storage industry

Zeng Yuqun, founder and chairman of Contemporary Amperex Technology (CATL), stated that price competition in the energy storage industry is extremely fierce. Over the past three years, energy storage system prices have fallen by approximately 80%. The winning bid for a recent centralized procurement project was even less than 0.4 yuan/Wh, significantly deviating from cost. Zeng Yuqun believes that low prices inevitably lead to reduced capacity and specifications, creating quality and safety risks for the industry.