Terawatt Hours in Electric Vehicle Batteries

Terawatt Hours in Electric Vehicle Batteries
Terawatt Hours in Electric Vehicle Batteries

According to the data released by the China Automobile Manufacturers Association, new energy vehicle production in China reached 617 units and sales reached 593 thousand units in July. In the January-July period, the production of new energy vehicles increased to 3 million 279 thousand units and their sales to 3 million 194 thousand units, increasing 120 percent compared to the same period of the previous year. The new energy vehicle industry has become one of the important engines of economic growth due to the fact that consumption has started to recover from the effects of the Kovid-19 epidemic and a series of incentive policies implemented by the Chinese government.

China, the world's largest market in this field, hosted the World Conference on New Energy Vehicles last month. Speaking at the conference, Wan Gang, Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference and Chairman of the World Conference on New Powered Vehicles, said, "Since the beginning of this year, the new-powered vehicle industry has been growing rapidly around the world. In the first half of the year, global sales of new energy vehicles exceeded 66,3 million 4 thousand with an increase of 220 percent compared to the same period of the previous year and broke a record. Sales of new energy vehicles in Europe increased by 8 percent in the first half of the year, reaching 1 million 90 thousand units. While sales of new energy vehicles grew rapidly in the USA, total sales increased by 66,76 percent compared to the same period of the previous year. China's new-energy vehicle industry also maintains its rapid growth. In the first half of the year, the sales of new energy vehicles in China increased by 115,58 percent on an annual basis and reached 2 million 600 thousand units.

Noting that a total of more than 20 million new energy vehicles are sold worldwide, Wan said, “New energy vehicles are becoming the new rising point of the global economy. "This year, the number of new energy vehicles in use worldwide is expected to continue to grow and exceed 11 million," he said.

New energy vehicles will be encouraged in rural areas as well.

According to the data, worldwide demand for vehicle batteries in 2021 increased by more than 100 percent compared to the previous year and reached 340 GWh. Demand is expected to exceed 2025 TWh by 1 and enter the TWh era for batteries. In addition, with the fulfillment of emission reduction commitments of various countries, it is estimated that the battery production volume will increase to 2030 TWh by 3,5, and the market size will exceed 25 billion dollars.

On the other hand, China's Ministry of Industry and Informatics launched a campaign in 2020 aimed at promoting the popularization of new-energy vehicles in rural areas. The data released by the China Automobile Manufacturers Association showed that sales of new energy vehicles in rural areas of China increased by 2021 percent in 169,2 compared to the previous year, reaching 1 million 68 thousand units. It was noteworthy that the growth rate was 10 points higher than the overall growth rate of the market.

According to a report published by China EV 100, by 2030, the total number of new-energy vehicles used in rural areas of China will reach 70 million 10 thousand units. This means 159 new energy vehicles per thousand people. Experts say that China's rural area has a huge potential for the new energy vehicle sector.

Apart from that, Hainan Island in the south of China has announced that by 2030, the sale of fuel vehicles will be banned throughout the island. The state government aims to have new-energy vehicles account for 2030 percent of all vehicles on the island by 45.

Source: China International Radio

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