While other countries struggle to find electric vehicle batteries, China is “calmly” looking for export customers because its capacity is 3 times higher than consumption.

Tram Ho

The speed of development makes other countries admire

China’s electric vehicle battery industry is growing stronger than ever, prompting China to seek overseas customers as its capacity will soon reach three times the demand from manufacturers. domestic electric cars.

The country’s electric vehicle battery manufacturers are expected to produce an estimated 3,000 GWh of electric vehicle batteries by 2025, as reported by Economic Daily, a newspaper run by the State Council.

This is more than six times the expected output of 500 GWh this year and three times the expected demand in 2025 from domestic electric car manufacturers. Capacity estimates are based on expansion plans published by major battery manufacturers, Economic Daily said.

Phate Zhang, founder of Shanghai-based electric vehicle news site CnEVpost, said: “ The good news is that China’s electric vehicle industry has overcome the bottleneck that once hindered the development of electric vehicles. it. However, battery companies may need to look beyond the domestic market to meet their needs as China has taken the lead in battery technology .”

According to a forecast by UBS Bank, by 2022, consumers in China are expected to buy 6 million battery-powered vehicles, more than double from 2.99 million units last year. Fitch Ratings says the passenger electric vehicle market will maintain a steady annual growth rate of over 30% over the next few years.

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Photo: SCMP

Battery giants

However, this bright prospect is not all in the world’s largest electric vehicle market. Economic Daily reported that as of September, there were 48 electric vehicle battery suppliers in operation, down from more than 200 suppliers in 2017, citing data from the China Association of Automobile Manufacturers. National (CAAM).

The data shows that the top 10 companies are controlling a total of 94.4% of the market in China. After a decade of efforts to improve production technology and techniques, a group of Chinese electric vehicle battery manufacturers have gained a foothold in the global market.

It is impossible not to mention CATL, the battery industry giant based in the eastern province of Fujian in China. It is currently the world’s largest electric vehicle battery manufacturer, supplying batteries to Tesla and BMW, and currently supplies one-third of electric vehicle batteries globally.

BYD, a battery maker and electric vehicle assembler backed by billionaire Warren Buffett’s Berkshire Hathaway, holds about 13% of the global market share, according to Seoul-based SNE Research. Chinese companies such as CALB, Gotian, Sunwoda and Svolt also made the list of the top 10 manufacturers of electric vehicle batteries in the world.

In September, CATL announced it would begin construction of a $7.35 billion plant in the Hungarian city of Debrecen in 2022, which will have an annual capacity of 100 GWh when completed in 2027. This second factory outside of mainland China is an important step for CATL in strengthening its global strategy. They are also expected to start production at their first overseas plant in Thuringia, Germany later this year.

CALB will establish a production facility in Portugal after signing an agreement with the Portuguese government earlier this month. David Zhang, Senior Managing Director of Suzhou Hazardtex, a specialist vehicle battery supplier, said: “ Chinese electric vehicle battery companies will race against mainland EV assemblers to become the dominant electric vehicle battery manufacturer in China. into powerful international companies. More importantly, they must secure more orders from overseas automakers as domestic demand will not be enough to support their high capacity levels .”

Chinese companies produce two types of batteries widely used in electric cars: NCM batteries, which include lithium, nickel, cobalt and manganese, and LFP batteries that use lithium, iron and phosphate.

According to SCMP

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Source : Genk