29 Jun '17, 7pm

China Aims To Beat Tesla Gigafactory Li-Ion Battery Production

China Aims To Beat Tesla Gigafactory Li-Ion Battery Production

Will China be the leading market for Tesla batteries and electric cars, or its top competitor? A new study by Bloomberg Intelligence reports that Chinese companies are at work on plans to produce more than 120 gigawatt-hours a year by 2021. Demand for lithium-ion batteries is forecasted to radically increase in the next five years as plug-in electrified vehicle sales grow in markets including world-leading China, and power utilities install battery systems to manage wind and solar energy. Tesla’s Gigafactory in Nevada is scheduled to have capacity for up to 35 GWh battery production annually by 2018 as the company prepares to increase vehicle production seven-fold in that time span. Earlier this month, CEO Elon Musk said Tesla will be announcing by year’s end its plans to build three or four more Gigafactories. One of those locations is expected to be China. Since then, Te...

Full article: http://www.hybridcars.com/china-aims-to-beat-tesla-gigafa...

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