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China sees 22 new EV battery plants committed RMB 160 bln in Q1
2021/04/09 09:49:04

Apr 09, 2021 (China Knowledge) - China sees 22 new EV battery plants committed a total investment of RMB 160 bln in Q1. CATL (300750) is the world’s largest supplier of EV battery currently, and it is expanding by building new facilities in China alongside BYD (002594), EVE (300014), Svolt and Guoxuan High-Tech (002074).

Of the companies listed, CATL is aggressively expanding, and is working on 7 of the 22 projects. The total investment for the 7 projects amounted to RMB 80.5 bln. CATL and Svolt are also expanding in Europe, enhancing their global footprint.

CATL’s batteries have also increased global usage to 8 GWh in Jan and Feb, a 272.1% year-on-year increase from 2020, establishing a comfortable lead in market share of 31.7%. 

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