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BYD's strategy not only emphasizes technological advancements but also focuses on cost reduction. The company plans to target an additional 15% price decrease across its new blade battery lineup. Such a move contrasts with the industry trend where battery prices have escalated. This objective is crucial considering the competitive landscape against companies like CATL, the world's largest battery manufacturer.
As explained, BYD's existing blade battery has already established a good market price point, with potential future pricing strategies aiming to keep their advanced LFP batteries competitive with traditional nickel manganese cobalt (NMC) batteries while still benefiting consumers with premium technology at LFP prices.