Charged up at pole position
Battery plants and power-up network set to power China’s e-vehicle industry to worldwide lead
also vowed to invest 240 million euros ($281 million) on a production base in central Germany, which will start operations in 2021 with an annual output capacity of 14 GWh.
“We hope to bring the world’s most advanced power battery technology to Germany and offer them more timely and effective product solutions,” says Zeng Yuqun, CATL’s chairman.
China’s new energy vehicle industry has witnessed rapid growth, thanks to national subsidies. Initially, in 2001, sales accounted for a mere 0.03 percent of the total vehicle sales. That figure swelled to almost 2.7 percent in 2017, making China the biggest new energy vehicle market worldwide.
MA XUEJING AND SU JINGBO / CHINA DAILY