Battery electric vehicles bevs taipei

Rising demand from electric vehicles (EV) and challenges in securing raw materials would deliver a battery supply crunch for automakers already grappling with a chip crisis, a key Chinese manufacturer said.

"When the chip shortage is over, the major supply shortage the industry faces would be batteries," Yang Hongxin (), chairman of SVolt Energy Technology Co (), which has struck an agreement with Jeep-maker Stellantis NV, said in an interview. "The production capacity of battery cells will be tight in the next few years because expansion takes time."

Global automakers are rapidly adding electric models as battery prices plunge and as governments set deadlines to phase out sales of new combustion-engine cars to help meet climate targets. Demand for lithium-ion batteries from transport and energy storage will surge to as much as 5.9 terawatt-hours a year in 2030, putting a strain on supply chains, BloombergNEF (BNEF) said in an annual New Energy Outlook report published on Wednesday.

Changzhou-based SVolt, a spin-off of automaker Great Wall Motor Co (), is seeking to add further exposure to lithium production, and is examining potential targets, including mines and salt lake operations in China, Yang said.

The producer is planning an aggressive expansion in manufacturing and aiming to have capacity of more than 200 gigawatt-hours by 2025 from less than 1 gigawatt-hour last year. That compares with proposals from industry leader Contemporary Amperex Technology Co to lift capacity to 550 gigawatt-hours, including joint projects, by the same date, BNEF data showed.

SVolt has announced about US$4.6 billion in four new expansion projects since the start of the year, including a 2 billion euros (US$2.4 billion) facility in Germany that would be the firm''s first factory in Europe. The company is also considering the addition of one or two further production bases in China, Yang said.

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Battery electric vehicles bevs taipei

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