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Not only lithium battery manufacturing companies, but also large users of lithium batteries benefit from the rapid expansion of lithium battery production.

Yutong Bus is the largest customer of Ningde New Energy, a leading lithium battery company. Wang Yanxue, an analyst at Guotai Jun'an, told Henan Business Daily that due to the large procurement volume, Yutong Bus has strong bargaining power and significantly benefits from the decrease in battery costs.

Yutong has become the world's largest power lithium battery purchaser and an absolute leader in the field of electric commercial vehicles, "he said. From 2015 to 2017, Yutong's battery usage accounted for 8% to 10% of the country's total. According to the prospectus of Ningde New Energy, a leading lithium battery company, the price of power lithium batteries in 2017 decreased by 26% compared to 2016.

However, analyst Wang Yanxue speculates that as the largest purchaser, Yutong Bus's decline far exceeds 26%. Therefore, he believes that Yutong Bus can be considered an important beneficiary of this round of lithium battery production expansion.

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