China’s Electrical Battery Makers Aim More Power To Provide Longer Range

Besides being the chief producer of electric vehicle batteries, currently, China is also the largest market for new energy vehicles that comprise of plug-in hybrid, battery-electric, and hybrid models.

In a quest to improvise the technology for electrical batteries and pave way for super batteries, the electric vehicle (EV) battery makers in China are collaborating with leading companies worldwide. To attain sizable momentum, the Chinese firms are even hiring right minds that can drive EV innovation to the next level.

Besides being the chief producer of electric vehicle batteries, currently, China is also the largest market for new energy vehicles that comprise of plug-in hybrid, battery-electric, and hybrid models. With top spot at hand, the EV battery manufacturers are now advancing to realize the next level of battery technology by offering batteries with extra power and quality that can achieve longer distances in single charge.

According to various reports in China, besides acquiring better manpower Chinese EV battery makers are also spending heavily on the R&D and partnering up with international automobile firms and technology providers in the country as well as overseas. As per an estimate, till now nearly $14.2 billion has been already invested by the Chinese EV battery industry. On the other hand, worldwide, by the year 2025, the new energy vehicle (NEV) market is anticipated to see an upsurge to $567,299.8 million. With encouraging demands, the Chinese government aims EVs to contribute 25% of its total vehicle sales by 2025. Such high estimation is ought to see the demands for the batteries increase by massive numbers in coming times where not only quantity, quality of batteries will also matter.

Recently, US- based EV manufacturer Tesla has tied up with Chinese EV firm Contemporary Amperex Technology Ltd (CATL) for the batteries that will be fitted in its electric cars that will be sold in China by Tesla. The American EV giant has lately released Model 3 compact electric sedans from its new manufacturing facility in the country, which the first EV rolled out of the US.

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In addition to Tesla, CATL has also collaborated with the German carmaker BMW for its EV batteries supplies. Under this alliance CATL has invested around $2 billion in a battery facility in Germany. The new factory is expected to start the supply of the batteries by 2021 to BMW.

Source: Economic Times