Shulou(Shulou.com)11/24 Report--

CTOnews.com, November 6, the Fifth China International Import Expo (Expo) will be held in Shanghai from November 5 to 10. JPMorgan Chase said at the fourth Industrial Revolution and Wisdom Travel Forum that new energy and intelligence are leading a new round of reshuffle in the automotive industry, Chinanews.com reported. With the continuous improvement of battery capacity and quality, the cost of battery is expected to decrease gradually.

JPMorgan Chase predicts that the cost per kilowatt-hour of electricity in battery manufacturing may fall to $100 or less by 2025.

According to reports, with the decline in battery costs, the continuous improvement of charging facilities, and strong policy support, JPMorgan is optimistic about the development of domestic demand for new energy vehicles.

CTOnews.com learned that data from the China Automobile Association showed that in September 2022, the production and sales of new energy vehicles in China reached another all-time high, with 755 million and 708000 vehicles respectively, an increase of 1.1 times and 93.9% respectively over the same period last year. From January to September, the production and sales of new energy vehicles reached 471.7 million and 4.567 million respectively, an increase of 1.2 times and 1.1 times respectively over the same period last year, with a market share of 23.5%.

In terms of charging infrastructure, according to the data disclosed by the China charging Alliance, the increase in charging infrastructure from January to September 2022 was 1.871 million units, of which the increment of public charging piles increased by 106.3 percent over the same period last year, while the increment of private charging piles built with cars continued to rise, up 352.6 percent from the same period last year.

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