In an exclusive interview with TaiyangNews Managing Director Michael Schmela at SNEC 2025, CORNEX Chairman Deming Dai laid out the company’s evolution, its rapid ascent in the energy storage industry, and a clear-eyed view of the road ahead.
Though CORNEX is a relatively young player in the lithium-ion battery sector, it has grown rapidly through strong R&D, relentless innovation, and a sharply focused strategic vision, according to Dai. “In any industry, development is about iteration,” said Dai. “You can’t judge a company solely by its age—what matters is capability and adaptability.”
Dai shared that his company’s journey has unfolded in clear phases: research and development (R&D), market entry, product evolution, and now rapid expansion.
With nearly 5,000 patents, over 600,000 products delivered, a global customer base, and more than 2,000 people in R&D, CORNEX is positioning itself as a global frontrunner.
He emphasized that customer trust didn’t come from chance. “Clients visited our factories and R&D centers. Seeing our capabilities firsthand convinced them we’re serious about this market,” he added.
While the storage industry is new – barely a decade old – its pace of growth has been extraordinary. In 2019, global installed capacity stood at just 40 GW. By 2021, China alone grew from 4 GW to nearly 30 GW. Prices have halved in 5 years, while deployment has increased 10-fold. “Lower costs have unlocked wider adoption,” he pointed out, “but the next phase will also be driven by both higher performance and lower prices.”
China excels in this space, and not because of capital, Dai stressed, adding that it is because of technology and manufacturing capacity. Most of all, the real advantage is also speed, something that companies abroad struggle with.
Looking forward, he predicts steep growth from 2025 to 2028 as storage achieves deep market penetration worldwide. Even with trade and policy hurdles, Dai believes long-term demand is “irreversible.”
For Europe, he noted that while regulation lags and double-taxation exists in some markets, Europe’s real advantage lies in its market-driven nature, which will inevitably align with need.
Asked about the risk of overcapacity, Dai was candid. “Yes, overcapacity happens – in waves. But the market doesn’t stop growing. Our product cycles are extremely short – only 1 to 2 years. If you can’t keep up, you’re weeded out.”
CORNEX sees safety – not cost – as the top priority. “PV is relatively simple. But batteries involve far greater risk. A PV plant won’t explode. A storage plant can.” As such, he explained, the idea of using flexible factories to serve both storage and automotive markets is limited by their differing technical requirements.
Innovation is a constant theme in CORNEX’s strategy, including support for technologies like bidirectional EV charging. “In Europe especially, we expect households and farms with PV to use their EVs as mobile storage—100 kWh that can either drive or power the home. That’s the future.”
Looking ahead 1 to 3 years, Dai foresees market consolidation, with many existing players and products disappearing. “But the overall market will keep growing. Prices will rise again because costs have already bottomed out.”
For CORNEX, the company Chairman said the strategy is clear: stay ahead by moving fast, staying focused, and building not just products, but trust and ecosystem value. “This industry rewards seriousness. Without it, there’s no opportunity. With it, we can shape the energy future.”