How does COVID-19 Impact of Lithium ion Battery Industry

On February 10th, lithium battery industry chain enterprises out of Hubei Province, including battery companies, battery materials companies, and battery equipment companies, which have reached local resumption standards have officially started.

The impact of the COVID-19 on the consumer side is obvious. Consumers willingness to purchase cars was curbed in January, and in addition to the sharp decline in new energy vehicle subsidies in 2019, the production and sales of new energy vehicles in January fell sharply.

As two of the top domestic new energy vehicle sales companies, BYD's January sales report shows that in January 2020, the company achieved 7,133 new energy vehicle sales, a year-on-year decline of 75.12%.

In view of the impact of the epidemic on the new energy vehicle and lithium battery industry chain in 2020, nearly 50% (48%) of the survey data believes that the short-term impact will be affected, but the impact will not be large throughout the year; The impact of energy vehicles and consumption and supply chains will cause a significant decline in the industry, accounting for 33%. 17% of these have not yet been conclusive.

AOTELEC Battery Equipment Company donated 120,000 CNY to Wuhan, mainly for car disinfection and environmental disinfection. We hope that through our donation, we can do a little for the frontline epidemic prevention work in Wuhan.

Reported by Jason Li,

AOTELEC Company

2020-02-12