Charged up at pole po­si­tion

China Daily European Weekly - - BUSINESS -

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

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