Ann: Corporate Presentation, page-16

Haha a lifecycle of 450 cycles! It's rude to laugh I know, but I think the whole point of attempting to increase the specific energy is to be able to do so without sacrificing the life of the battery. Looks like CATL should shut up shop if they are aiming for only 300wh/kg by 2020.

Really, the battery space is a incremental market at the moment and there is definitely room for a number of competitors. Some end users will still want to use NCM for years to come. Others will look at alternatives. Different battery chemistries are required for different purposes. There is a market for those licerion batteries, but not the market we are targeting