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Shenzhen Zhifu New Energy Co., Ltd.

 [Guangdong,China]

Business Type:Manufacturer , Trade Company

Main Markets: Africa , Americas , Asia , East Europe , North Europe , Oceania , Other Markets , West Europe , Worldwide , Caribbean , Europe , Middle East

Exporter:71% - 80%

Certs:ISO14001, ISO9001, CCC, CE, EMC, FCC, FDA, MSDS, PSE, RoHS, Test Report, UL

Description:Solar System Batteries,Solar Panel Battery Cost,Enphase Battery Cost,Solar Battery Storage Price

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Favorable Response from Private Sector to Escalate Momentum for Lithium-ion Battery Applications

Though the growth of the lithium-ion battery market is significantly stimulated by the governments of numerous countries, the private sector will follow the lead and push the bars of the industry. Volkswagen, a German automaker, announced its vision to electrify all its car models by the year 2030. Chinese automakers - Yutong and BYD - are actively involved in deploying electric bus in Latin America and Europe. For example, in June 2019, BYD Co. Ltd announced the deployment of 183 units of Pure Electric Buses to Chile.

With electric vehicles becoming the benchmark for the automotive industry, automakers following the traditional suit of fossil-based vehicles are seen entering into partnerships with lithium-ion battery manufacturers. For instance, in June 2019, LG Chem Ltd. formed a joint venture with Geely Automobile Holdings Ltd. for manufacturing lithium-ion batteries for EVs in China. Production of lithium-ion batteries is expected to begin in 2021, with 10 GWH of annual capacity.

Since the conceptualization of electric cars, the performance of Chinese EV automakers and favorable regulatory norms reflected a strong position of China in the global electric vehicle market. However, this lead has gone beyond the entire product, and moved towards the lithium-ion battery landscape as well. Currently, China accounts for ~ 60% of the total Asia Pacific lithium-ion battery market. The effect of EVs peeping into the automotive industry has also influenced the mature German lithium-ion battery market.

In November 2018, the German government announced support worth US$ 1.12 billion for bringing in innovation into lithium-ion manufacturing firms. With an innovative-driven approach and established automotive players, Germany is likely to remain an attractive region as far as investment is concerned.

Potto Yao

Mr. Potto Yao

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