YIBIN, China, Sept. 3, 2024 /PRNewswire/ -- The 2024 World Power Battery Conference was held in Yibin, Southwest China's Sichuan province from Sep 1 to 2, drawing hundreds of government officials, top scientists and industrial executives from China and abroad.

The event not only showcased the latest achievements in leading power battery technology and green and low-carbon travel, but also featured discussions on important issues in the power battery industry. It invited the UAE, as the guest of honor country, to build an international cooperation platform for development of the power battery industry.

A total of 137 new energy vehicle and power battery investment projects worth 95.25 billion yuan ($13.4 billion) were signed. These projects are expected to generate a total output value of 100 billion yuan and create 20,000 jobs upon reaching full production capacity.

The officials and business leaders said China's strides in developing its electric vehicle and power battery industries are making significant contributions to global sustainable development and the fight against climate change.

As a key driver of the electrification transformation, China's power battery industry has been leading the world for seven consecutive years in terms of market scale. Six of the world's top 10 power battery enterprises in terms of installed capacity are based in China.

Robin Zeng Yuqun, founder and chairman of CATL, a Chinese electric vehicle battery giant, said the power battery industry has entered a new development stage, and he expects the industry to create multidimensional economic and social values.

The three editions of the World Power Battery Conference have seen the signing of a total of 200 major investment projects worth 300 billion yuan, starting from the inaugural event in 2022.

Since CATL set up operations in Yibin in 2019, the city has developed a complete power battery industrial chain comprised of the initial production of raw materials, the manufacture of components for power batteries, the assembly of new energy vehicles and battery recycling.

According to Yibin city government, the city is striving to build a world-class power battery industry cluster. Last year, sales of power batteries in Yibin reached 96 GWh, accounting for over 15 percent of the national total. Total output value of its entire industry chain exceeded 100 billion yuan.