NEV market to expand lithium-ion battery production by 23%

Published: Dec 06, 2018 15:09 (GMT+8)

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Output is expected to reach 12.1 billion units this year

SHANGHAI, Dec 6 (SMM) – Power battery demand from China's expanding new-energy vehicle (NEV) market is likely to grow domestic production of lithium-ion batteries by 22.86% from 2017, to 12.1 billion units this year, showed data by Ministry of Industry and Information Technology (MIIT).

China produced more than 10 billion lithium-ion batteries in 2017, up 27.81% on the year. In 2014, output stood at 5,287 million, and accounted for 71.2% of the global production that year.

While growth in demand from the smartphone sector will slow, China’s rapidly-expanding NEV market will underpin the development of lithium-ion batteries.

Separately, the MIIT will organise a technical committee for the standardisation of lithium-ion batteries and other similar products, according to a notice issued on MIIT website on December 5.

Market commentary Lithium battery

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