China’s Building the Equivalent of 3 Musk Gigafactories
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%.
|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