"The company plans to increase NCM 811 (batteries with Nickel, Cobalt, and Manganese at a ratio of 8:1:1) capacity to 100 GWh from the current 5GWh, by 2025. While battery companies including CATL are racing to launch NCM 811 to gain an early mover advantage, many industry participants believe NCM 811 can co-exist with other battery configurations (NCM 523 and NCM 622) especially with declining cobalt prices which is leading to a reduction in the price gap between the above configurations. The ending of subsidies in China (which currently favors long-range NCM 811 powered EVs) would further hamper the growth of NCM 811 configurations going forward. Battery companies could scale down or modify their ambitious expansion plans based on market conditions." – Aman Madhok