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Power Surge: Chinese Electric Car Battery Maker Charges For Global Market (reuters.com)
A dusty village on the outskirts of Ningde, a third-tier city in China's southeast, seems an unlikely place for the headquarters of a potential global leader in future automotive technology. Reuters writes about a promising company from China that is eyeing global expansion. From the article: Yet China's top-down industrial policy diktats - move up the value chain, clean up polluted urban skies, and shift to plug-in cars -- have Contemporary Amperex Technology Ltd poised to go from hometown hero to national champion, and beyond. China's answer to Japan's Panasonic Corp and South Korea's LG Chem Ltd has tripled its production capacity for lithium-ion car batteries in the past year to keep up with a surge in China's sales of electric cars. After a second major funding round completed in October, the company's value quadrupled to 80 billion yuan ($11.5 billion), CEO Huang Shilin said last week. CATL, which hopes to list on Beijing's over-the-counter exchange as part of plans to raise at least another 30 billion yuan by 2020, could be a dominant force globally.
Sounds like someone is pushing an over the counter stock scam.
A large part of their electricity is produced in coal power plants, which don't even have sufficient filtering for soothe and sulfur oxide. An electric car running from such power plants is way worse for the local and global environment than a petrol car. More CO2, lots of additional SO2 and soothe.
They should focus on these power plants and on their kitchen fireplaces first.
Experience the calming warmth of our new coal power plant..join us and be soothed.
Wow, the Chinese are really taking this whole climate change conspiracy to the next level. I mean, it's obviously a scam to make America less competitive, but they seem to be wasting a lot of money trying to fool everybody.
This isn't material to the decision making in China. What IS material is that there are either explicit (not likely) or hidden (likely) ownership interests by people in the government who stand to benefit. They will benefit if it's a scam or a bona fide export engine and will quietly squirrel the proceeds out of the country. The only people worried about dirty air in China are the impacted citizens and they don't have a shred of political power to influence the outcome.
Surely there should be some disclaimer explaining this is a paid for publicity and not a genuine article of interest.
It is not logical as long as new coal power plants are built.
Chinese coal production and consumption both peaked in 2013, and are declining.
Coal in China.
It is only logical if you ignore where the additional power comes from
Net new production is not coming from coal.
or if your place relies on renewable energy.
China is the world leader in both wind and solar.
I don't know what a "diktat" is but it sounds very painful
Pain is merely failure leaving the body