Robin Zeng, Chairman of CATL, China's largest automotive lithium-ion battery maker, said Tuesday at the 2020 World New Energy Vehicle Conference that the company has developed a battery product that does not ignite but only emits smoke, and will be mass-produced in some models by the end of the year.

"The national standard requires the battery to not ignite for five minutes, and our newly developed product can do so without ignition and only smoke, and will be mass-produced in some models at the end of the year," Zeng Yuqun said, adding, "Even if one cell catches fire, the entire PACK only smokes, which is a direct solution to the pain point."

He also said that high energy density and high safety have been no problem, but the low cost still needs time to solve.

Zeng Yuqun also stressed that Europe's new energy vehicle industry has surpassed China's investment efforts, and called on the Chinese government to launch battery leasing related to subsidy policy.

On the one hand, this can reduce the user's acquisition costs, on the other hand, enterprises can also continue to invest in technology, in 10 years after the profit maximization can be achieved, he said.

Zeng Yuqun also predicted that the era of oil and electricity parity will be partially arrived in 2023, and will be fully arrived in 2025.