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
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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This really makes me happy, lithium miners are and will be a very safe bet against stock market corrections. All battery technology for the foreseeable future will be lithium based, and it takes on average 7 years to start new production… Meanwhile lithium price is already going nanas
https://www.investing.com/commodities/lithium-carbonate-99.5-min-china-futures
Nice plans, I hope they succeed. The question is, will materials be available? Maybe sodium ion will become key for utility storage, and low speed vehicles like city busses. Sodium ion can use aluminum foils, rather than copper(as in lithium ion) as a bonus.
What is the application for the battery?
For vehicles energy per liter or kilogram needs to be *high*.
For stationary application energy per $ invested is far more important than keeping the size down. That is why for a long time pumped hydro was the only grid scale storage & I think it is still the vast majority.
Yes, while people in US and Europe continue to put obstacles in Musk's way. China is showing guts and is likely to capture the glory.
The task is so clear and straightforward that there are many possibilities. Seems like solid state capacitors that are structural too would have an advantage. Don't forget H.
Glad you asked!
http://www.searchanddiscovery.com/pdfz/documents/2009/70070criswell/ndx_criswell.pdf.html
Batteries are going to become another China's leverage against us.
Has anyone figured out how we will generate the amount of electricity to be used in these batteries? Maybe we can generate enough by rubbing our hands together really fast because that appears to be what we will have to do.
Just like solar panels it's about the size. Capacity is based on energy density, a bigger battery a larger storage potential. A smaller battery a smaller storage potential. What really matters is the chemicals inside, heat management, recharge thresholds manufacture ability and battery management systems. I think lithium has limit to what can be stored vs overheating and deterioration in a typical battery. Anyone think the next evolution is hybrid solid state super capacitors married with lithium battery tech?
Is MIIT smelling a capacity bubble, or are they expecting a new battery tech that while better than lithium based batteries, would require scrapping lithium battery production lines to convert?