At the GAC Group's 2022 annual performance conference, Zeng Qinghong, chairman of GAC Group, said that battery is one of the key costs for determining whether the group's own EV brands could be profitable. When the price of lithium carbonate is above 400,000 yuan/mt, electric vehicle production is a loss-making business. Now that lithium carbonate prices have crashed, the company may be able to make profits this year.
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