Industry Group Standard for Cost Accounting of EV and Energy Storage Batteries Launched to Drive Sector Standardization

On July 30, 2024, the kick-off meeting for the group standard "General Rules for Cost Accounting Models of Power and Energy Storage Batteries" was held in Beijing. Nearly 30 organizations and over 50 representatives attended, including industry associations, universities and research institutes, vehicle manufacturers, power battery producers, key material suppliers, and institutions involved in the energy storage sector. The meeting outlined the standard’s drafting plan, current progress, core content, and implementation value. Participants engaged in discussions on critical issues such as the cost accounting framework, statistical methodologies, and scenario adaptability, offering input to support further refinement of the standard. The standard will cover both individual cells and battery packs, with its scope encompassing the full cost chain—from raw material inputs and production processing to inspection, testing, and finished goods warehousing. The meeting emphasized that this standard is not intended to replace existing corporate accounting systems but rather to provide a basis for addressing industry-wide overcapacity, standardizing payment terms, and countering low-cost overseas competition. Enterprises were also encouraged to channel feedback and recommendations through the China Automotive Battery Innovation Alliance to relevant government authorities to jointly safeguard a healthy industrial ecosystem. According to data, in June 2026, China’s combined output of power and energy storage batteries reached 20.6 GWh, up 7.5% month-over-month and 59.5% year-over-year. Cumulative production from January to June 2026 totaled 106.89 GWh, an increase of 53.3% compared to the same period last year. It is forecasted that domestic power battery demand for vehicle applications in 2026 will reach 88.87 GWh, growing by 15.8% year-over-year, with demand from new energy passenger vehicles and commercial vehicles projected at 67.27 GWh and 21.61 GWh respectively—up 10.8% and 34.7% year-over-year.