Lithium battery production for e-cars surges
China is the world’s largest market for electric cars and at the heart of the new energy drive is the lithium battery.
Lithium battery production is growing at breakneck speed in China, fueling investment in research and development. This has triggered major breakthroughs in the sector as they become smaller and generate more energy.
The country’s electronic vehicle sales have surpassed those of Europe and the United States since 2016, and will continue to lead until 2040, according to a report by Bloomberg.
In April, the government issued guidelines to raise the percentage of e-cars to more than 20 percent, or about 7 million vehicles, by 2025.
Already new energy models have surged by 14.4 percent to 195,000 vehicles in the first half of this year, accounting for 1.5 percent of auto sales, according to the China Association of Automobile Manufacturers.
“China’s new energy vehicle industry, as well as the power battery sector, has evolved into a stage where there are rivalries in technologies and resources,” said Zhang Xiaofei, president of Shenzhen Gaogong Industry Research Co Ltd, an industrial analytic company, specializing in batteries, e-vehicles and new materials.