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Brand New Battery Will Be Available Next Year

Oct 24, 2019

A few days ago, Germany will join forces with eight other EU countries including France, Poland, Italy, Finland, Belgium, Sweden, Slovakia, and Spain to establish the second European battery manufacturing and recycling alliance. According to German media, many automakers, chemical companies, and auto battery companies have joined the alliance. BMW, BASF, and Valta are all participating companies.

Considering that the demand for electric vehicles in the market will increase significantly in the future, the European automobile manufacturing countries headed by Germany hope to establish a battery industry base in Europe instead of relying too much on foreign parts suppliers. As a key technology for the development of electric vehicles, battery-related projects will be eligible for the “European Common Interest Program”, which means that the government will relax the requirements and provide more support for the company. In recent years, Asian power battery companies such as Ningde Times and LG Chem have set up their own battery production plants in Europe. As the upstream industrial chain necessary for the development of the electric vehicle industry, whoever occupies this highland, who will gain more initiative in the future development of the automotive industry. The entry of these Asian power battery companies has also brought some pressure on European car companies.

In May 2019, Germany and France decided to establish the first battery industry alliance in Europe. German Opel Auto, the French Peugeot Citroen Group and the French battery manufacturer Shuai Fude are members. With the electrification of the automotive industry and increased pressure on emissions reductions in Europe, the demand for batteries will increase. According to a McKinsey related research report, it is estimated that by 2040, the demand for batteries for European electric vehicles will reach 1200 GWh per year.