SHANGHAI, Oct. 21 (SMM) – Narada Power suffered a loss of 1.57 million yuan ($ 0.25 million) in motive battery business during January-June due to price wars, SMM learnt.
The company achieved 752 million yuan in business revenue of motive batteries in H1, down 7.22% YoY.
The end of June came at the worst time for motive batteries but bad situation did not change in Q3. 48v12Ah battery prices only grew less 2% to 280-300 yuan late September from late June’s 240-300 yuan. Parts of motive battery makers still reported losses at the end of September, SMM noted.
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