BEIJING, July 14 (Xinhua) -- China's new energy sector should move from extensive development to prudent investment, reported Shanghai Securities News Monday quoting an industry executive.
Extensive development has yielded a series of undesirable results, including overcapacity, poor product structure, low return on investment etc., said Hu Jian, vice president with Shanghai Metals Market (SMM), an integrated internet platform provider of nonferrous and ferrous metals based in Shanghai.
Hu made the remarks at the 5th China International LiCoNi Summit kicked off Monday in Ningbo, east China's Zhejiang Province.
Prudent investment involves cost advantage, technology drive, up-to-date layout among others, he noted.
Taking technology drive as an example, he pointed out that in the medium and long term, solid-state batteries and lithium-rich manganese-based batteries will lead the development of power batteries as they boast better energy density and safety performance.
He believed that enterprises should manage to achieve cost advantages through investing in raw materials, pursuing large-scale development and other means.
For instance, battery firms can turn to low-cobalt and chromium-free development and reduce the application of high-cost cobalt to achieve battery cost advantage.
Given the insufficient capacity of related materials in Europe to expand the production of batteries, Hu suggested that investing in or exporting batteries to the European market might be a big opportunity. (Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)
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