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China Readies Huge Capacity to Make EV Batteries
Chinese companies plan to add enough capacity annually to produce almost 160 gigawatt-hours of lithium-ion battery cells for electric and plug-in vehicles by 2021, Bloomberg Intelligence predicts.
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Chinese companies plan to add enough capacity annually to produce almost 160 gigawatt-hours of lithium-ion battery cells for electric and plug-in vehicles by 2021, Bloomberg Intelligence predicts.
That output would be enough to power about 2 million Tesla Model S EVs or more than 18 million Toyota Prius plug-in hybrids, according to Bloomberg. The news service notes that China's capacity would compare with about 35 gigawatt-hours of eventual annual output for Tesla Inc.’s first “gigafactory” in Utah.
About 55% world’s production capacity for lithium-ion batteries resides in China now, compared with 10% in the U.S. Bloomberg projects global capacity will balloon to 273 GWh by 2021 from about 103 GWh today—with China accounting for 59% of the total.
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