Microvast Power Systems (MPS) has received $400 million in a funding round led by CITIC Securities. MPS is a vertically integrated battery system manufacturer. Its battery systems are currently powering over 15,000 electric and hybrid public transport vehicles in over 140 cities. MPS plans to launch a next-generation product line this year, and began construction… Read more »
Switzerland-based Leclanché has received certification for its LTO battery cells that will allow it to provide battery solutions for EVs in China. This certification, which was performed by an independent testing lab, corresponds to the latest standards from the Standards Administration of China, and covers lifetime, safety and performance requirements. Leclanché is in discussions with… Read more »
Audi and its Chinese partner the FAW Group have crafted a new strategic growth plan that calls for expanding the line-up of models produced in China, including electrified vehicles. In the next five years, Audi and FAW plan to produce five additional e-tron models for the Chinese market, including pure EVs with ranges of more… Read more »
China is one of the epicenters of the electromobility revolution, and a new proposal could make it much more so, while also giving a boost to American EV-makers such as Tesla. Currently, foreign automakers are allowed to produce vehicles in the country only through a joint venture with a local partner. Now China’s National Development… Read more »
Plug-in sales in China are going wild – annual sales for 2016 are expected to exceed 350,000. The country now has the largest plug-in fleet in the world: over 650,000 vehicles, surpassing Europe (630,000) and the US (560,000). Upcoming changes to government incentive programs contributed to a sales surge for small EVs in November. The… Read more »
Colorado-based motor manufacturer UQM Technologies (NYSE MKT: UQM) has received an updated Chinese certification for its PowerPhase HD250 electric propulsion system. The testing, conducted at the China Automotive Technology & Research Center, included system performance analysis for power and torque, vibration, salt spray, sealing performance and electrical testing. UQM’s PowerPhase HD250 system, designed for heavy-duty… Read more »
China has been heavily promoting EVs and other “new energy vehicles,” in order to reduce its choking air pollution, cut dependence on oil imports and give it a leg up in the global auto industry. According to UBS Securities, Chinese governments at all levels invested around 90 billion yuan ($13 billion) in plug-in vehicles in… Read more »
In Shanghai for a workshop at GM’s Pan Asia Technical Automotive Center, Executive Director for Electrification Larry Nitz outlined the company’s short-term electrification roadmap for China. The company will soon launch the Chevrolet Malibu XL Hybrid and Buick LaCrosse Hybrid in China, to be followed by the Cadillac CT6 PHEV later this year. The CT6… Read more »
China’s overall economy is in the doldrums these days, but the lithium-ion battery industry is booming, according to market intelligence firm CCM. Nearly 80% of the world’s new investment in Li-ion batteries was in China in 2014. China’s electrochemical energy storage market recorded a compound annual growth rate of 110% from 2010 to 2015, about… Read more »
The lure of China’s EV market, with its vast potential size and a government committed to promoting new energy vehicles, is an enticing one for established automakers and startups alike. Shenzhen-based BYD (in which Warren Buffett’s Berkshire Hathaway owns a 9% stake) currently dominates China’s new energy vehicle market, with an 18% share. Tesla is… Read more »