29 Jun '17, 5pm

China Set to Put 120 GWh of Battery Capacity into the Market by 2021

China Set to Put 120 GWh of Battery Capacity into the Market by 2021

As Elon Musk races to finish building the world’s biggest battery factory in the Nevada desert, China is poised to leave him in the dust. Chinese companies have plans for additional factories with the capacity to pump out more than 120 GWh a year by 2021, according to a report published this week by Bloomberg Intelligence. That’s enough to supply batteries for around 1.5 million Tesla Model S vehicles or 13.7 million Toyota Prius Plug-in Hybrids per year, according to Bloomberg New Energy Finance. By comparison, when completed in 2018, Tesla Inc.’s Gigafactory will crank out up to 35 GWh of battery cells annually. Lithium-ion batteries have long been used in smartphones, laptops, and other personal electronics, but demand is forecast to explode in the next five years as electric vehicles proliferate and power companies install giant storage systems to smooth the ebb and fl...

Full article: http://www.renewableenergyworld.com/articles/2017/06/chin...

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