Tianneng to double battery production in China for EVs
Tianneng Power International, the biggest supplier of batteries for low-speed electric vehicles in China, is expanding production capacity this year to meet surging demand.
The battery maker will produce up to 1 million lithium batteries a day by year end -- double its current capacity, Chairman Zhang Tianren said in an interview last week in Beijing, where he attended the National People's Congress.
The Zhejiang province-based company also will double the number of lead-acid batteries it can make this year, he said.
"There is huge demand for batteries as sales of low-speed electric cars are expected to more than double to half a million units this year," Zhang said. "Our operations will see great improvement this year."
Chinese automakers are expanding production of low-speed EVs to meet demand for affordable transportation by consumers in urban areas amid a government push to promote less-polluting modes of transportation.
These EVs typically have top speeds of 80 kilometers per hour. They are popular in smaller cities and rural areas because they are cheaper than regular cars and cost less to operate.
Tianneng can supply only two or three automakers with its existing production of the higher-margin lithium batteries, Zhang said.
The company had a 51 percent share of the market for batteries used in urban mini-EVs in China in 2013, according to its report posted in September. Customers include Chery Automobile Co., Kandi Technologies Group Co. and SAIC Motor Corp., the company said.
The Zhejiang province-based company also will double the number of lead-acid batteries it can make this year, he said.
"There is huge demand for batteries as sales of low-speed electric cars are expected to more than double to half a million units this year," Zhang said. "Our operations will see great improvement this year."
Chinese automakers are expanding production of low-speed EVs to meet demand for affordable transportation by consumers in urban areas amid a government push to promote less-polluting modes of transportation.
These EVs typically have top speeds of 80 kilometers per hour. They are popular in smaller cities and rural areas because they are cheaper than regular cars and cost less to operate.
Tianneng can supply only two or three automakers with its existing production of the higher-margin lithium batteries, Zhang said.
The company had a 51 percent share of the market for batteries used in urban mini-EVs in China in 2013, according to its report posted in September. Customers include Chery Automobile Co., Kandi Technologies Group Co. and SAIC Motor Corp., the company said.
