Lead Acid Could Help Propel China To Top of EV Battery Market by 2015
Whether it be by lithium-ion, lead acid, or any other chemistry; the fact remains that battery-powered vehicles are more in demand now than ever before. As companies throughout the world race to develop and manufacture the most efficient, eco-friendly batteries for electric vehicles; the success of several China-based battery manufacturers have the country projected to lead the way in the EV battery market for the foreseeable future.
According to a recent study by Pike Research, China is poised to become the global leader in electric vehicle charging equipment, accounting for nearly 50% of annual sales by 2015. One of the major contributing factors of this projection is the success of China Ritar Power, a leading Chinese manufacturer of lead acid batteries who recently announced that it’s batteries have the ability to power an electric motor vehicle for up to 90 miles without recharging.
“Demand for environmentally friendly electric vehicles is increasing as consumers and governments worldwide are moving to reduce their dependence on oil-based transportation and battery technology increasingly delivers more efficient and better performance,” said Mr. Jiada Hu, China Ritar’s Chairman and CEO. “We believe we are well positioned to benefit from the growth in the electric vehicle industry with our lead acid batteries that have the capability to power an electric vehicle up to 90 miles without needing to be recharged and are priced at approximately 50% less than international manufacturers. More specifically, Shenzhen Greenwheel Electric Vehicle, one of the biggest EV manufacturers in China, is in the process of constructing a new industrial park in Wuxi, China, with capacity to manufacture up to 50,000 electric vehicles annually. Once Shenzhen Greenwheel Electric Vehicle begins manufacturing electric vehicles at the new industrial park, we expect to receive orders worth up to $15 million.”
This success by China Ritar, coupled with the success seen by other China-based battery manufacturers such as BYD , has China firmly positioned as world leaders in the development and production of batteries for electric vehicles.
Category: Battery News
