Local Chinese governments award Boston Power funding to expand plants

Boston Power

Battery manufacturer Boston Power has secured $290 million in local government support for the expansion of its two facilities in China. The company’s Liyang facility will increase its manufacturing capacity fivefold by 2016. Its Tianjin facility is expected to reach 8 GWh in manufacturing capacity by 2018.

Boston Power expects China’s EV market to be worth $35 billion by 2020, with demand for lithium-ion batteries hitting 100 GWh.

“China is the largest and fastest growing EV market in the world and leads in the manufacturing of EVs and e-buses,” said Boston Power Chairman Sonny Wu. “Our analysis shows that this market will experience significant battery supply constraints over the next 3-5 years, which we aim to address. We will use this support to ease a backlog of secured contract orders for our range of more than 30 EV battery designs used by leading Chinese automakers.”

“Tianjin has been on the cusp of China’s drive for EV adoption, and we’re constantly embracing a growing variety of EV models into our city and into our grid,” said Tianjin government official Xiangyu Ni. “We are specifically supporting local and foreign companies, such as Boston Power, whose innovations are helping China, the world’s largest auto market, to meet its aggressive demand for long-range EVs.”

 

Source: Boston Power

  • Kerry Carter

    Once again because of or addiction to oil and the the stupidity of or general population and policy makers China and India will be the global leaders in battery technology and production and the implementation of advanced alternative energy consisting mostly of Solar and Wind. America will lag behind as usual mostly because of greed.

    • bea ware

      the reason for this is because big oil bought our Congress, they will not push for solar wind or EVs. America and it’s “leaders” are far too corrupt to lead in EV or any renewable energy sources. We are owned by the fossil industry. To all of our detriment.