26 Dec '16, 7pm

Chinese Battery Company Aims For Prominence in Global Electric Car Market

Chinese Battery Company Aims For Prominence in Global Electric Car Market

A Chinese electric car battery maker wants to become as well known in the global market as competitors Panasonic and LG Chem. Contemporary Amperex Technology Ltd (CATL) is a five-year old startup seeing rapid growth supplying lithium-ion batteries in China and overseas. Based in the city of Ningde in southeast China, CATL is tapping into China’s government-backed incentives for local companies and global demand from automakers producing plug-in electrified vehicles. The battery maker has tripled its production capacity for li-ion batteries in the past year to service China’s market demand. CATL is already producing more of these batteries than Korean-company LG Chem, and is creeping up on Panasonic and BYD’s battery market share. The company has a lofty plan to beat Tesla’s Gigafactory in Nevada. That would come through growing its battery capacity six times by 2020 to 50 ...

Full article: http://www.hybridcars.com/chinese-battery-company-aims-fo...

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