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Advances in battery technology will accelerate the development of the electric vehicle market

Continuous breakthroughs in battery technology

Extending battery life is seen as a key advancement, because it allows batteries to be reused in a second car and will help reduce the cost of owning an electric car.

Some analysis pointed out that the results of these laboratories cannot be copied to the highway. In reality, the driving style, weather and road conditions of electric vehicle users will have an impact on battery life; however, the information transmitted by the experiment is very clear, lithium ion The battery life can be much longer.

Industry insiders pointed out that battery life is only one of the indicators that help promote the popularity of electric vehicles, and there are still many key battery technologies that need to be broken through. In terms of the long range and fast charging that consumers are after, the progress people have made is not as obvious as the battery life. In addition, the average battery price has not fallen below $100 per kWh. This price is considered to be the threshold for making electric vehicles truly competitive in price compared to traditional gasoline-powered vehicles.

The electric vehicle market has developed rapidly in recent years. Data show that in 2019, global sales of electric vehicles reached 2.2 million units, a year-on-year increase of 10% and a market share of 2.5%, that is, one out of every 40 passenger cars sold is an electric vehicle.

The new crown pneumonia epidemic has caused global car sales to fall sharply. However, there is a view that electric vehicles are better able to withstand the impact of the economic slowdown caused by the epidemic than fuel vehicles. It is expected that the electric vehicle industry will resume growth faster.

There is a view that lithium-ion batteries are one of the most profitable parts of electric vehicle products and a major component of the development strategy of major automobile manufacturers for electric vehicles. It is essential to strengthen cooperation and exchanges between automobile manufacturers. At the same time, in order to meet the rapidly growing demand for electric vehicles, automakers will need millions of lithium-ion batteries, which is difficult to achieve by themselves, and strengthening battery R&D and production cooperation has become an inevitable trend.

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