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Lithium battery technology 2.0 new era of new energy car boom broke out
In a recent update, the Ministry of Industry and Information Technology (MIIT) released the "Notice on Production Enterprises and Products for Road Motor Vehicles" in its 304th batch. This announcement included applications from 73 companies across 167 models for new energy vehicle products. Specifically, there were 153 pure electric and plug-in hybrid models from 68 companies, along with 9 hybrid models from 7 companies and 5 fuel cell models.
The report highlights a growing trend in the new energy vehicle sector, as more consumers shift their preferences due to rising fuel prices, increased investment in charging infrastructure, and tighter regulations on traditional fuel vehicles. Jia Xinguang, a chief analyst at the China Automotive Industry Consulting and Development Corporation, predicts that this shift will lead to a significant surge in new energy vehicle demand starting this year.
Among the newly listed products, there are 36 new energy passenger vehicles, 65 new energy commercial vehicle products (including chassis models), and 66 special vehicle products. New energy passenger cars make up 21.6% of the total, with 29 pure electric and 7 plug-in hybrid models. Notably, emerging brands such as Haima, Jiangling, Hangzhou Changjiang, and Hebei Hongxing are also entering the market alongside well-known names like BAIC New Energy, BYD, and Yundu.
The heart of any new energy vehicle is its battery, and lithium-ion technology is advancing rapidly. On April 17, 2017, MIIT announced the first batch of companies meeting the "Lithium-ion Battery Industry Regulatory Conditions," with eight companies selected. Among them, Ningde Times was the only energy storage battery company. In January 2018, the second batch was released, featuring 18 companies, including Duodu, Xinwangda, and others, showing a significant increase in participation.
This growth reflects the booming demand for new energy vehicles. According to the China Automobile Association, in 2017, sales and production of new energy vehicles reached 774,000 and 777,000 units respectively, marking a 53.8% and 53.3% year-on-year increase. As the industry continues to expand, the role of energy storage batteries will become even more critical.
Several companies have also made notable breakthroughs in lithium-ion battery technology. For example, Lanxiao Technology recently completed the commissioning of a high-purity lithium carbonate production line in Qinghai, while Jiangte Motor is expanding its capacity, aiming to complete a new production line by mid-2024.
Globally, the electric vehicle market is witnessing substantial investment. Ford recently announced it would double its electric vehicle investment to $11 billion, bringing the total global investment in batteries and electric vehicles to $90 billion. Though electric vehicles still represent less than 1% of global car sales, the market is expected to grow significantly.
China remains a key player, with auto production and sales reaching 29 million and 28.89 million units in 2017, accounting for over 25% of global sales. Meanwhile, many countries, including Norway, Germany, and the UK, have set timelines for phasing out internal combustion engine vehicles, signaling a global shift toward sustainable transportation.