China’s Building the Equivalent of 3 Musk Gigafactories

China’s Building the Equivalent of 3 Musk Gigafactories

China’s Building the Equivalent of 3 Musk Gigafactories

$TSLA

Tesla’s (NASDAQ:TSLA) hype-mister, Elon Musk, gets the attention, but small companies in China have plans to build battery factories that can supply an additional 120 gigawatt-hours of power a year by Y  2021.

By comparison, Mr. Musk’s Tesla plant in Nevada will have the capacity to make 35 gigawatts-hours of battery cells annually when finished in Y 2018.

The Chinese factories will make enough juice to supply batteries for around 13.7-M Toyota Prius Plug-in Hybrids per year, according to media reports.

Demand for these batteries is going good, thanks to EVs (electric vehicles) and energy storage systems.

China’s market share for lithium-ion battery production is expected to grow to 65% from 55% by Y 2021.

US production is moving ahead, but its market share is still relatively small: It’s expected to grow to 17%, up from 10%.

Symbol Last Trade Date Change Open High Low Volume
NASDAQ:TSLA 352.62 3 July 2017 -8.99 370.24 371.35 351.5 6,303,800
HeffX-LTN Analysis for TSLA: Overall Short Intermediate Long
Neutral (0.12) Neutral (-0.06) Neutral (-0.04) Bullish (0.46)

Have a terrific 4th of July Celebration

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