Chinese "Lithium" dominates the lithium battery market

Oct 21, 2019   Pageview:164

China's new energy policy has attracted global attention in recent years, the Financial Times reported. And China is becoming the dominant market in the fiercely competitive market for lithium-ion batteries.

Not long ago, the government called on domestic battery companies to double their battery capacity by 2020, encouraging them to invest in factories overseas, the report said. Lithium-ion batteries will be a key technology for at least the next 10 years, creating a huge market as carmakers increase their investment in electric vehicles.

Goldman estimates that the market will be worth $40 billion by 2025 and will be dominated by China.

China overtook South Korea as the world's largest supplier of lithium batteries for electronic devices in 2013, according to Goldman Sachs. A year later, as the Chinese electric car market began to take off, this leading edge further expanded. China sold 507,000 pure electric and plug-in hybrids in 2016, up 50 per cent from the previous year.

Regarding the rapid development of the size of Chinese lithium batteries, Dengken·gudewen, head of stock of the Baring Global Resources Plate, a fund management company, commented that "the Japanese invented it, Koreans sought to expand the production scale, and the Chinese eventually took a dominant position. Because the market is ultimately in China. "

And the reason why China lithium-ion batteries can come from behind is mainly because of price factors.

Analysis suggests that what worries foreign battery makers more than they do without subsidies or obstacles is the biggest advantage for rivals such as Chinese battery maker Xiangbitesila: access to raw materials. Over the past year, Chinese companies have been pouring into the lithium-ion supply chain, buying mining assets such as cobalt and lithium to cut costs.

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