SHANGHAI, Jun. 8 (SMM) – Sichuan has announced to loosen restrictions on low-speed electric vehicles, which SMM sees as good news for lead-acid battery market.
Detailed rules for low-speed EVs are expected to be issued in August, according to Sichuan’s government. The easing of restriction on such vehicles will help lift consumption of electric vehicle batteries.
SMM learned that many large battery producers, including Chaowei Power and Tianneng Power, are optimistic about outlook for low-speed EV battery market. Cao Guoqing, Deputy Secretary of the China Battery Industry Association, also said low-speed EV battery market witnessed a 15% growth in 2014, well above the 10% increase in e-bike battery market.
Low-speed vehicles, including electric tricycles, have been controversial due to security concerns and the use of lead-acid batteries. Most local governments never encourage the use of such vehicles, and some even imposed restrictions on selected types.
Shandong is now a major producing center of low-speed EVs in China, with output up 69.37% YoY in the first quarter to 69,200 vehicles.
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