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China Electric Vehicle Battery Market Size Analysis, Segmentation, Industry Outlook and Forecast 2019 - 2025
China Electric Vehicle Battery Market
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Key Players - Shenzhen BAK Technology Co. Ltd, BYD Co. Ltd., Contemporary Amperex Technology Co., Ltd., and Hitachi, Ltd. are the key market players operating in the China electric vehicle battery market.
The market is segmented on the basis of battery type vehicle type, and propulsion technology. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Based on battery type Li-ion is anticipated to hold a considerable market share during the forecast period. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicle, plug-in hybrid electric vehicle.
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These players are actively involved in the expansion of their market share by adopting several growth strategies such as the launch of new battery manufacturing plants or entering into a partnership with the major electric vehicle manufacturer operating in the country. For instance, the Dutch battery manufacturing company Lithium Werks BV made an investment of around $1.9 billion to build a lithium-ion battery factory in China to meet the growing demand for electric vehicle batteries in China. The factory will be built with a production capacity of 8 gigawatt-hours per year to power 160,000 electric vehicles.
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