At the 2026 Advanced Battery Industry Cluster Forum in Shenzhen on October 16, Wang Mingwang, founder of battery maker Sunwoda, said three global trends—low-carbon energy production, intelligent energy management, and electrified energy consumption—are creating broad and certain growth space for the advanced battery sector. According to Gasgoo, which first reported the event, Wang spoke at the forum's opening ceremony alongside industry experts and peers.
Strategic role and challenges
Wang noted that China's 15th Five-Year Plan for energy development has provided top-level design for diversified applications of new energy storage, further establishing the strategic position of the advanced battery industry. However, he also highlighted multiple challenges, including reliance on overseas resources, pressure on profitability, international standards barriers, and compliance issues in going global. He urged the industry to move away from extensive scale expansion and adopt a high-quality, sustainable development model.
Sunwoda's market performance
Data from the China Automotive Power Battery Industry Innovation Alliance shows that in September, Sunwoda's power battery installations reached 3.24 GWh, capturing a 3.74% market share and ranking sixth in China. Among these, lithium iron phosphate (LFP) battery installations totaled 2.83 GWh, with a 3.80% share. From January to September, cumulative installations reached 17.77 GWh, a 3.09% share, keeping the company firmly in the industry's first tier.
Sunwoda's semi-annual report shows that in the first half of the year, EV battery shipments grew 76.37% year-on-year to 28.36 GWh, with corresponding revenue of 14.134 billion yuan (about $1.99 billion), up 85.87%. The company also said its HEV (hybrid electric vehicle) battery shipments have ranked first in China for five consecutive years, and its installations ranked first globally in both the first and second quarters of this year.
Investments from Li Auto and Xiaomi
Recently, Li Auto announced a strategic investment of 2.65 billion yuan (about $373 million) in Sunwoda Power, while Xiaomi's car unit named Sunwoda as a strategic battery partner. These moves are expected to further strengthen Sunwoda's growth momentum in the power battery business. With the implementation of the 15th Five-Year Plan, the company is anticipated to see greater development opportunities in the hybrid and energy storage segments.
