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

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.