Faced with issues such as power battery production capacity, technology evolution, raw material supply, and business operation models, Mr. Song put forward his own insights and analysis based on Micromacro Power's production and operation experience. Subsidy reduction is not scary, fast charging operation has more advantages. In a large policy environment such as the reduction of subsidies for new energy vehicles, how to achieve low-cost and high-efficiency operation is an issue that consumers have to consider. Song Han believes that no matter which business model a battery company adopts, it is ultimately to make consumers pay the bill. How can such business operations be sustained after subsidies decline or even disappear? How can such a good technology be sustained? Technology that allows consumers to achieve profitability is necessary, and Microvast Quick Charge satisfies this need well. Through statistical analysis of on-site operations, Weihong found that compared with slow-charging pure electric buses, taking into account vehicle purchase, station construction costs, operating costs and operating subsidies, within an 8-year use cycle, for a fleet of the same size, fast-charging is better than slow-charging. Lower life cycle costs, saving millions of dollars. The main reason for this is that fast charging has obvious advantages in terms of vehicle attendance and charging pile configuration. Microvast's latest battery energy density has reached 220Wh/kg, and the system energy density has reached 140Wh/Kg, which is no different from slow-charging batteries, and can be fully charged in 15-20 minutes. In terms of effectiveness and efficiency, fast charging has obvious advantages. Micromacro Power Battery Pack Production Line's real-life formation of technical features coordinates the upstream and downstream industry chain. From 2016 to now, the production capacity of the entire battery and battery cells has expanded rapidly. There is a shortage of high-quality production capacity, but low-end production capacity has begun to have excess risks. Song Han believes that judging from the monthly changes in new energy vehicles over the years, battery companies have insufficient production in the first half of the year and rapid growth in the fourth quarter, resulting in unstable production and insufficient capacity utilization of battery companies. The reason is on the one hand the changes in the policy environment, and on the other hand the company's own technical level and resource integration capabilities are insufficient. How to adapt to policy changes and the pressure of overcapacity, Mr. Song said from the perspective of battery companies that we need to start from the following four aspects. The first is to form technical characteristics. Upgrade technology, such as increasing energy density. In fact, Microvast Power has been adhering to the technical route of "fast charging, high safety, and long life" since its establishment, and has formed its own characteristics and has been widely recognized by customers and the market. Secondly, battery companies and customers (car companies) form healthy cooperation. Battery companies and car companies must carry out differentiated product designs based on the actual needs of consumers, rather than following policies. Policies are constantly being adjusted and changed, and companies ultimately produce products to meet the needs of the market and consumers. Many companies need to improve in this aspect. Once again, we need to improve industrial chain management. Because battery companies are actually a sandwich layer between upstream materials and end customers, cost pressure is very high. Battery companies collaborate with upstream industrial companies such as positive and negative electrode materials and separator electrolytes to ensure the stability of the supply of raw materials. In addition, many third-party companies are now doing the recycling of used batteries downstream of the industry. In the future development, battery recycling is one of the ways for companies to reduce costs, and it is also something that battery companies have to do. Finally, we need to develop new markets with stable supply. Compared with the subsidized market, the volume of new energy vehicles in the non-subsidized new market is smaller, but the annual supply is relatively stable. For battery companies, this can maintain stable production throughout the year, effectively utilize production capacity, and control production costs. In the post-subsidy era, consumers will definitely choose business models based on operational economic needs. Therefore, for Microvast, it will adhere to the fast charging technology route whether with or without subsidies. Although the road to fast charging has not been smooth sailing, Weihong will continue to go forward, and will also adopt the fast charging mode in pure electric taxis, online ride-hailing and other fields. At present, electric vehicles have become a strategic direction for the development of the global automobile industry. The advancement of power batteries has made today's electric vehicles possible and will also determine the pace of marketization of electric vehicles in the future. Microvast Power adheres to the technical route of "fast charging, high safety, and long life" and contributes to the development of the electric vehicle industry and "Made in China 2025".

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