BTR bets big on EV mar­ket to drive growth

China Daily (USA) - - BUSINESS - By ZHOUMO in Shen­zhen, Guang­dong sally@chi­nadai­

Shen­zhen BTR New En­ergy Ma­te­ri­als Inc, the world’s lead­ing an­ode ma­te­ri­als sup­plier for lithium-ion bat­ter­ies, said it is bet­ting big on the development of the elec­tric ve­hi­cle mar­ket to drive stronger growth of its business.

“The Chi­nese EV in­dus­try is grow­ing at a fast speed. It is ex­pected to be­come one of the most im­por­tan­tEV­mar­kets in the world,” said Huang Youyuan, deputy gen­eral man­ager of the com­pany.

“That will pro­mote the development of the bat­tery sec­tor, thereby cre­at­ing greater mo­men­tum for our fu­ture growth,” he added.

The com­pany’s rev­enue reached 1.5 bil­lion yuan ($218 mil­lion) last year and the com­pany aims to in­crease its sales to 10 bil­lion yuan by 2022.

Es­tab­lished in 2000, BTR has been the world’s big­gest mar­ket player in the an­ode ma­te­ri­als sec­tor since 2011. Ac­cord­ing to mar­ket re­search or­ga­ni­za­tion Yano Re­search In­sti­tute, the com­pany ac­counted for 31.8 per­cent of the global mar­ket share of an­ode ma­te­ri­als in 2014.

“Many for­eign com­pa­nies think that Chi­nese prod­ucts are of low tech­nol­ogy and qual­ity,” said BTR Chair­man He Xue­qin. “We want to change their per­cep­tion through our ef­forts to pro­vide out­stand­ing prod­ucts.”

The com­pany said that 60 per­cent of its rev­enue comes from overseas mar­kets, mainly South Korea and Ja­pan, with in­ter­na­tional cus­tomers in­clud­ing such as Sam­sung Elec­tron­ics Co, LG Elec­tron­ics and Sony Corp.

But, Huang said his com­pany would fo­cus on its do­mes­tic mar­ket and the United States, which have huge po­ten­tial due to their grow­ing EV mar­kets.

By the end of 2015, a to­tal of 497,000 elec­tric ve­hi­cles had been sold in China. It is es­ti­mated that EV sales in the coun­try will ex­ceed 2 mil­lion by 2020.

Zhao Xiang, an an­a­lyst with Bei­jing-based con­sul­tancy Analysys, said the rapid development of the Chi­nese EV mar­ket is go­ing to bring big ben­e­fits to re­lated in­dus­tries.

But he also said that tech­nolo­gies re­lated to bat­tery power sup­plies still need to be im­proved to spur EV growth.

BTR is mak­ing ef­forts in that re­spect, saidHuang.

“We aim to en­hance bat­tery en­durance dis­tance to more than 500 kilo­me­ters and re­duce charg­ing time to 10 min­utes within the next sev­eral years, to make EV as cost-ef­fec­tive as gaso­line-fu­eled ve­hi­cles,” he said.

the num­ber of elec­tric ve­hi­cles that are ex­pected to be sold in China in 2020


A worker pre­pares ma­te­ri­als used for the production of lithium-ion an­ode ma­te­ri­als at the re­search and development cen­ter of Shen­zhen BTR New En­ergy Ma­te­ri­als Inc in Guang­dong province.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.