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Better Place, Chery Sign Collaboration MOU for Prototype Switchable Battery Electric Vehicles in China

Better Place and Chery Automobile Co.—China’s largest independent auto producer and exporter&mash;signed a memorandum of understanding (MOU) to collaborate on electric vehicle technology in the world’s largest auto market. As part of the collaboration agreement, the Chery exhibit at Auto China 2010 features elements of the Better Place EV solution, including EV charge spots and battery-switch technology displayed with a Riich G5 sedan.

Under the terms of the MOU, Better Place and Chery will jointly develop switchable-battery EV prototypes with the goal of securing regional Chinese government EV pilot projects.

With only 2% of China’s population owning cars and 80% of sales in 2009 to first-time car buyers, China has the opportunity to create and lead an entirely new category around clean transportation. With the scale of Chery’s design and manufacturing capability and an industrial policy that favors EV over ICE, we believe China represents an unprecedented opportunity for Better Place. Our collaboration with Chery is just the beginning for Better Place in China.

—Dan Cohen, Vice President of Strategic Initiatives for Better Place

China has set an industrial policy with the objective of becoming the largest EV developer and manufacturer in the world. China is the world’s second largest consumer of oil behind the US. By 2020, China is expected to rely on 65% of foreign oil imports.

HSBC research predicts that China’s share of the global EV market will grow from 2.7% this year to 35% by 2020. During this time period, China will overtake Japan by 2016 and the US by 2019 in dominating the global EV market.

Comments

HarveyD

China's active efforts to accelerate the transition to electrified vehicles and the huge local market growth may very well make it the world affordable EV leader by 2020. China does not have to fight naysayers and pro-oil groups in court.

Evs and batteries produced for the local market will quickly find their way on the worldwide export market. Very interesting and challenging from a free market point of view.

Interesting decade ahead. May the most productive and forward looking groups win.

sulleny

"According to government statistics, China's imports have grown from about 6 percent of its oil needs a decade ago to roughly 40 percent today and are forecast to rise to rise to 60 percent by 2020."

State controlled China National Petroleum is the largest oil company leveraging $2 trillion in exchange reserves to buy up vast resources in Africa and elsewhere. Don't fool yourself, petroleum is huge and getting bigger in China.

This is the right place for battery swapping concept and the partnership with Chery a good start for the idea. It will not fly in NA or Europe.

ToppaTom

China's active efforts to tap low cost labor have made it the uncontested world leader in low technology goods some years ago.

Domination of medium to high technology products (such as autos) is within their grasp.

IMHO, the US is held back by labor, not by naysayers etc in court, except for nuclear power (solar power to some degree) and drilling.

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