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What is the demand for power lithium batteries in 2020? Lithium ion battery manufacturers tell you. From 2018 to 2020, the production of new energy vehicles in China has maintained a rapid increase, and the growth rate of demand for power lithium batteries will be even higher. According to the national "13th Five Year Plan" for new energy vehicles by 2020, it is predicted that the demand for power lithium batteries will be approximately 71.7GWh by 2020. Accompanied by the goal of "cumulative production and sales of 5 million vehicles by 2020" is the demand for power lithium batteries exceeding 100GWh.

What is the demand for power lithium batteries in 2020?

Benefiting from the rapid increase in sales in the new energy vehicle industry, the shipment volume of power lithium batteries is steadily increasing, and their proportion in lithium-ion battery applications is rapidly increasing. Due to the withdrawal of government subsidies after 2020, there are doubts in the market about the penetration rate of new energy vehicles and the demand for lithium-ion batteries. We believe that as the cost of lithium-ion batteries continues to decline, the cost-effectiveness advantage of new energy vehicles as consumer goods will gradually be reflected, and the penetration rate will continue to increase. In addition, the energy storage industry is about to break through, and the demand for power lithium batteries will maintain a high compound growth rate of over 25% in the next decade.

Regarding the Chinese market, according to the plan of the Ministry of Industry and Information Technology and other departments, the number of new energy vehicles in China will reach 5 million by 2020, and the sales of new energy vehicles will reach 2 million that year, accounting for about 12% of the annual sales of automobiles. Assuming that the average charged capacity of new energy vehicles is 45kWh, the demand for power lithium batteries in 2020 will reach 90GWh, corresponding to a compound growth rate of 33% in demand from 2018 to 2020.

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