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December 26, 2016 04:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/_67OIrv8iIo/power-surge-chinese-electric-car-battery-maker-charges-for-global-market
Power Surge: Chinese Electric Car Battery Maker Charges For Global Market
A dusty village on the outskirts of Ningde, a third-tier city in China's southeast, seems an unlikely place for the headquarters of a potential global leader in future automotive technology. Reuters writes about a promising company from China that is eyeing global expansion. From the article: Yet China's top-down industrial policy diktats - move up the value chain, clean up polluted urban skies, and shift to plug-in cars -- have Contemporary Amperex Technology Ltd poised to go from hometown hero to national champion, and beyond. China's answer to Japan's Panasonic Corp and South Korea's LG Chem Ltd has tripled its production capacity for lithium-ion car batteries in the past year to keep up with a surge in China's sales of electric cars. After a second major funding round completed in October, the company's value quadrupled to 80 billion yuan ($11.5 billion), CEO Huang Shilin said last week. CATL, which hopes to list on Beijing's over-the-counter exchange as part of plans to raise at least another 30 billion yuan by 2020, could be a dominant force globally.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/_67OIrv8iIo/power-surge-chinese-electric-car-battery-maker-charges-for-global-market
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