Second and third-tier power battery companies face survival difficulties

Second- and third-tier power battery companies are having a hard time surviving, which is not only reflected in their financial reports, but some companies have announced layoffs, shutdowns, and production suspensions. Yang Hongxin, chairman of Honeycomb Energy, said that in order to cope with changes in the industry situation and overcapacity, the company has launched in-depth reforms since January, including shrinking the industrial layout, eliminating the last-place, reducing staff and increasing efficiency, and other measures. A similar situation also occurred in Tianjin Jiewei, where its Paul Technology Center T6 product line and other departments announced that they would organize off-site training and non-grassroots staff would be given holidays.