Mexican Media Brands
China’s EV Battery Industry Faces “Brutal” Consolidation
Only a handful of the dozens Chinese companies that make batteries for electric cars are likely to remain after the government ends subsidies for them in 2020, The Nikkei reports.
#hybrid
Share
Only a handful of the dozens Chinese companies that make batteries for electric cars are likely to remain after the government ends subsidies for them in 2020, The Nikkei reports.
China has invested more than $10 billion to develop a domestic battery industry, spawning hundreds of battery makers, according to the newspaper. But the spending began to phase out in 2017, slashing the number of manufacturers by one-third to 90 in a single year.
A research at Mizuho Bank estimates only about 20 domestic producers are likely to survive after the subsidies disappear.
Today, 70% of the world’s largest-volume battery producers are Chinese, The Nikkei points out. But it says companies that survive the industry’s “brutal” consolidation will be those that can supplement their manufacturing know-how with the inhouse ability to innovate their products.
Even big players lack such capability today, the report suggests. It notes that OptimumNano Energy, China’s third-largest battery maker, suspended production in July after government subsidies shrank.
China’s top producer, Contemporary Amperex Technology Ltd., also appears to be struggling, the newspaper adds. It cites CATL Chairman Robin Zeng’s recent question to employees: “Can pigs lifted by a typhoon really fly?”
RELATED CONTENT
-
The Koenigsegg Jesko Has An Amazing Engine
It is hard to believe that this is a vehicle in “serial” production with such extraordinary powertrain performance
-
on lots of electric trucks. . .Grand Highlander. . .atomically analyzing additive. . .geometric designs. . .Dodge Hornet. . .
EVs slowdown. . .Ram’s latest in electricity. . .the Grand Highlander is. . .additive at the atomic level. . .advanced—and retro—designs. . .the Dodge Hornet. . .Rimac in reverse. . .
-
Jeeps Modified for Moab
On Easter morning in Moab, Utah, when the population of that exceedingly-hard-to-get-to town in one of the most beautiful settings on Earth has more than doubled, some people won’t be hunting for Easter eggs, but will be trying to get a good look at one of the vehicles six that Jeep has prepared for real-life, fast-feedback from the assembled at the annual Easter Jeep Safari.
