Li Bin, Chairman of NIO: Standardization of battery cell specifications and chip unification will bring over 100 billion yuan in cost reduction opportunities for the industry.

Li Bin, chairman of NIO, stated at the High-level Forum on the Development of Intelligent Electric Vehicles on the 11th that the lack of unified specifications for battery cells is currently hindering the cost efficiency, market responsiveness, and long-term competitiveness of automotive companies. With battery technology now essentially converged, standardizing battery cell specifications has become possible. In addition, chip standardization is a necessary path to increase the localization rate. He believes that as long as battery cell specifications are standardized and chip standardization is achieved, the industry will usher in opportunities for cost reduction exceeding hundreds of billions of yuan.