Chinese companies to add 120GWh battery capacity by 2021

Signal of change / Chinese companies to add 120GWh battery capacity by 2021

By Anna Simpson / 24 Jul 2017

Bloomberg Intelligence reports that companies in China have plans to create battery factories with a combined capacity of 120GWh in the next four years. The Government aims to help the industry mature by consolidating battery manufacturers.

So what?

The surge in battery capacity complements China's plans to scale electric vehicles, creating domestic markets for both as well as reducing pollution. 

Meanwhile, Tesla plans to open a 35GWh battery factory in the US next year, while Swedish company Northwold is building a 32GWh one, and German company Daimler is investing EUR 500,000,000 into another, also due for 2018. 

According to Bloomberg analyst Nikolas Soulopoulos, battery manufacturing capacity is set to double by 2021, lowering costs by up to 43% - enabling EVs to compete with fuel engine cars on running costs. 

Sources

http://www.renewableenergyworld.com/articles/2017/06/china-set-to-put-12...

http://utilityweek.co.uk/news/plans-revealed-for-largest-battery-factory...

https://cleantechnica.com/2017/05/24/largest-battery-factory-europe-cons...

What might the implications of this be? What related signals of change have you seen?

Please register or log in to comment.

#signalofchange spotted by

Suggested