From ESS News
At its meeting on Nov. 28, the Chinese Ministry of Industry and Information Technology (MIIT) pledged to accelerate the implementation of targeted policies and measures to curb “irrational competition” in the power and battery energy storage industry.
Oversupply and aggressive bidding have eroded margins in China’s energy storage market, threatening the viability of numerous players. In response, industry voices in the world’s largest energy storage manufacturing hub have been advocating for price control, higher standards and reforms that would safeguard quality and ensure long-term stability.
In the Friday meeting with executives from a number of battery firms, Minister Li Lecheng emphasized that the Party Central Committee attaches great importance to the development of the power and energy storage battery industry. He stressed the need to comprehensively assess the current situation and implement directives addressing “involutionary” competition.
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