Zeng Yuqun: The price war in the energy storage industry has spread overseas, causing the gross profit margin of energy storage companies to shrink rapidly.

At the 2025 World Energy Storage Conference, Zeng Yuqun, founder and chairman of CATL, stated that the price of energy storage systems had dropped by about 80% in the past three years, with 20% of that decrease already happening. The winning bid price for a recent collective procurement project even went below 0.4 yuan/Wh, significantly deviating from the cost, and the viciously low prices would inevitably lead to a reduction in quantity and quality, creating safety hazards for the industry. He pointed out that this year's price war has spread overseas, not only rapidly shrinking the profit margins of energy storage companies but also leading to losses that outweigh the gains. "The advantage industries that we have worked so hard to develop in China are now entering a phase of fierce competition, followed by internal competition and then competition with foreign countries," he said.