China’s SVolt Energy 600 GWh of Battery Capacity by 2025

Chinese power battery supplier Svolt Energy is now targeting 600 GWh of battery capacity by 2025. Svolt’s “SV ‘600’ Strategy” was released on December 8. This is nearly doubling the company’s previous goal of 320 GWh and surpassing the 520 GWh capacity that CATL, currently China’s largest power cell supplier, current 2025 target. Svolt Chairman…
China’s SVolt Energy 600 GWh of Battery Capacity by 2025

Chinese power battery supplier Svolt Energy is now targeting 600 GWh of battery capacity by 2025.

Svolt’s “SV ‘600’ Strategy” was released on December 8. This is nearly doubling the company’s previous goal of 320 GWh and surpassing the 520 GWh capacity that CATL, currently China’s largest power cell supplier, current 2025 target.

Svolt Chairman and CEO Yang Hongxin said at the company’s second Battery Day event that the total global demand for lithium batteries for transportation electrification and energy storage will exceed 1.8 TWh by 2025, and that the company aims to capture 25% of the global market share.

1.8 TWh of batteries with 75% for electric cars with 50 kwh battery packs would be 27 million cars. There would be 25% or 450 GWh of storage.

Based on a 75 percent capacity utilization rate, Svolt is going to try to reach a goal of 600 GWh of global capacity, he said. 450 GWh will be the actual production target for 2025. 340 GWh of capacity will be for passenger car customers, and 37 GWh, 40 GWh and 37 GWh of capacity will be absorbed by energy storage, non-high-speed vehicles and commercial vehicles, respectively.

Svolt expects its effective output to be close to 600 GWh by 2026 and SVolt has now received close to 400 GWh of orders for 2025 passenger car batteries.

SVolt has eight production sites with 297 GWh of capacity under construction, including 30 GWh of capacity being built in Europe.

In August, 2021, Svolt announced the completion of a Series B financing round totaling RMB 10.28 billion ($1.59 billion), led by Bank of China Group Investment Limited, with participation from Huaxing Growth Capital, a subsidiary of Chinese Renaissance.

CATL targets at least 520 GWh by 2025 by market share but has stated a 1200 GWh by 2025.

CALB announced that its capacity plan will exceed 500 GWh by 2025, an upward revision from the 300 GWh announced in June. The company expects to achieve 1,000 GWh of capacity by 2030.

Gotion High-Tech targets a capacity scale of 300 GWh by 2025.

On November 18, China’s Ministry of Industry and Information Technology (MIIT) warned companies to reduce manufacturing projects solely for the purpose of expanding capacity and focus on enhancing technological innovation, product quality and reduce production costs.

SOURCES- MIIT, SVolt, CNEVPost


Written by Brian Wang, Nextbigfuture.com

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Finland and Sweden Moving Ahead Towards NATO Membership
Read More

Finland and Sweden Moving Ahead Towards NATO Membership

Finland and Sweden are moving ahead on separate tracks to quickly move ahead to join NATO. Finland had indicated it would prefer a solution that would see the two Nordic unaligned states “jump together” into NATO. Sweden is looking at a range of enhanced security-related options, including deepening Nordic defense cooperation and urging the European…
SpaceX Starlink Gen 2 Satellites Five Times Area of Gen 1
Read More

SpaceX Starlink Gen 2 Satellites Five Times Area of Gen 1

Elon Musk shared out an update presentation for a SpaceX all-hands meeting. There are some interesting renderings in the presentation. The new Starlink Generation 2 satellites are shown as having a length that is 80% of the diameter of the Starship. The Starship rocket is 9 meters wide. This means the renderings have the Gen…
Weirdcore adapts Trans-Aeon Express into a love letter to China’s electronic music scene
Read More

Weirdcore adapts Trans-Aeon Express into a love letter to China’s electronic music scene

A faster-than-light, spatio-temporal train ride through Chinese history, featuring cameos from some essential figures of China’s electronic music scene, including 33EMYBW, Gooooose, who’s track ‘TAE’ provides the score, Tianzhuo Chen, Hyph11E, Osheyack, Scintii, Tzusing and many more. Back at the start of the year audiovisual artist Weirdcore joined forces with 33EMYBW and Gooooose, two of…
Torus & Mark Prendergast stare into a digitally mediated sun in 3000 Mirrors
Read More

Torus & Mark Prendergast stare into a digitally mediated sun in 3000 Mirrors

Developed from a previous collaboration between the two artists, 3000 Mirrors uncouples footage of the sun from its digital footprint, transforming ghosting and lens flare into separately autonomous digital entities. In the work of Mark Prendergast the world is viewed differently. Using various methods of digital image manipulation, the artist focuses in on the idiosyncrasies…