Chinese companies building battery capacity for millions of electric cars – report
China looking to have lithium-ion battery production capacity of 120 GWh annually by 2021
China-based electric vehicle (EV) battery manufacturers are making huge investment in capacity expansions, says a report by Bloomberg Intelligence. According to the report, Chinese companies have plans to establish additional factories to produce more than 120 gigawatt-hour (GWh) of battery cell a year by 2021, enough to supply batteries for around 5 million Tesla Model S or 13.7 million Toyota Prius plug-in hybrids per year.
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