Korea-China relationship not to be changed soon…Sluggish EV battery market
Park Jung Il | comja77@ | 2017-11-09 11:22:50
The agreement between Korea and China has tightened up the high-altitude missile defense system (SAD) conflict, but the electric car battery market is still cold. However, experts advise that by 2020, the annual sales of electric cars will reach 2 million units and that the Chinese market cannot be abandoned.
According to the industry on November 8, the Chinese Industrial New Culture Ministry excluded cars that adopted Korean batteries from the list of the 10th car subsidy payment vehicles announced on the 1st. Also, it is said that there is no request for supply of Korean batteries from local car makers.
LG Chem said, "We supply batteries for some hybrid cars that are not eligible for subsidies, but there is little demand in China other than that," he said. "We are exporting the rest of the production to other countries."
Samsung SDI officials said the situation is similar to that of LG Chem. "China has never mentioned the electric car battery from the beginning in connection with the SAD, and the aspect of fostering its own battery industry has been stronger." SK Innovation, which has been pursuing the construction of a local battery joint venture since last year, still has no progress. He also said that there is no plan to restart the battery pack production plant, which has been shut down since the beginning of the year.
Meanwhile, experts advise not to give up, as the growth of the Chinese electric car market is terrifying. "The Chinese government is aiming to sell 35 million cars by 2025, and the new energy car is expected to occupy at least one-fifth of this amount," said Luiza Suh, IHS Market Researcher. "The Chinese government`s double credit policy The company is encouraging the production of new energy cars by the automakers, so the annual sales volume of electric cars is expected to reach 2 million in 2020."
China`s double-credit policy means that fuel-economy regulations, which reduce fuel consumption from 6.7 liters per 100km to 5ℓ in 2020, and China`s auto makers` sales ratio of eco-friendly cars to 8% in 2018, 10% And 12% per year. Another expert said, "Currently, Chinese battery makers have dominated the local market, but since the subsidies will be abolished after 2020, there will be a chance for local joint ventures in the future." In addition to batteries, markets such as motors and electronic devices "He said.
According to market researcher IHS Markit, sales of electric vehicles in China, which was 257,929 units last year, are expected to reach 2 million by 2020 and 7 million by 2025.
By Park Jung Il comja77@
[ copyright ⓒ The Digitaltimes ]
According to the industry on November 8, the Chinese Industrial New Culture Ministry excluded cars that adopted Korean batteries from the list of the 10th car subsidy payment vehicles announced on the 1st. Also, it is said that there is no request for supply of Korean batteries from local car makers.
LG Chem said, "We supply batteries for some hybrid cars that are not eligible for subsidies, but there is little demand in China other than that," he said. "We are exporting the rest of the production to other countries."
Samsung SDI officials said the situation is similar to that of LG Chem. "China has never mentioned the electric car battery from the beginning in connection with the SAD, and the aspect of fostering its own battery industry has been stronger." SK Innovation, which has been pursuing the construction of a local battery joint venture since last year, still has no progress. He also said that there is no plan to restart the battery pack production plant, which has been shut down since the beginning of the year.
Meanwhile, experts advise not to give up, as the growth of the Chinese electric car market is terrifying. "The Chinese government is aiming to sell 35 million cars by 2025, and the new energy car is expected to occupy at least one-fifth of this amount," said Luiza Suh, IHS Market Researcher. "The Chinese government`s double credit policy The company is encouraging the production of new energy cars by the automakers, so the annual sales volume of electric cars is expected to reach 2 million in 2020."
China`s double-credit policy means that fuel-economy regulations, which reduce fuel consumption from 6.7 liters per 100km to 5ℓ in 2020, and China`s auto makers` sales ratio of eco-friendly cars to 8% in 2018, 10% And 12% per year. Another expert said, "Currently, Chinese battery makers have dominated the local market, but since the subsidies will be abolished after 2020, there will be a chance for local joint ventures in the future." In addition to batteries, markets such as motors and electronic devices "He said.
According to market researcher IHS Markit, sales of electric vehicles in China, which was 257,929 units last year, are expected to reach 2 million by 2020 and 7 million by 2025.
By Park Jung Il comja77@