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Li-ion maker Boston Power secures US$290M from two local Chinese governments for expansion

Li-ion maker Boston Power has secured US$290 million in local government financial support for the expansion of its two facilities in China. The company’s Liyang facility will receive a total investment of $160 million, increasing its manufacturing capacity fivefold by 2016. The company’s Tianjin facility will grow its capacity to 4GW by 2017, and is expected to reach 8 GWh in manufacturing capacity by 2018.

The expansion of these facilities will allow Boston Power to meet the growing demand by leading Chinese automakers in the Yangtze River Delta and throughout the Bohai Gulf in Northern China. China’s EV market is expected to reach US$35 billion by 2020, with demand for high-end lithium-ion batteries hitting 100 GWh.

China is the largest and fastest growing EV market in the world and leads in the manufacturing of Eco-EV and E-buses. Our analysis shows that this market will experience significant battery supply constraints over the next 3-5 years which we aim to address.

—Sonny Wu, chairman of Boston Power

Boston Power’s products target multiple segments in the electric vehicle industry, all geared towards the growth of green, sustainable cities. In addition to premium cars, the company’s products cater to buses, sedans, taxis, and a variety of EVs designed for personal consumers and clean public transport operators.

Comments

gorr

If their batteries do not offer more range than the actual batteries of today, then im not interested to buy what ever the price. Im living in Canada where there is heavy cold and at night in chrismas I do often 250 miles drives with lightning and heating, im sure that there is no bev offering that kind of autonomy. But im a nice player and if a lot of car owners buy these batteries I will be glad because it will decrease petrol consumption worldwide and it will push petrol prices very low. So peoples living in warm climate where gas is costly, I want them to buy more and more bevs.

Brotherkenny4

The batteries of today are perfectly fine. Detractors will say they are not, but the contention that one needs a 200-300 or even 500 mile EV before EVs can become viable relative to ICEs are just wrong. The thing that really needs to happen is that the price needs to come down on batteries. Building more manufacturing, with it's associated pull on suppliers and materials producers who will also up their quantities, will largely accomplish this. Watch as price goes down, quality goes up and, because their is an ever increasing market for the products, that this will simultaneously drive innovation and performance improvements. Because their is a significant monetary gain that comes from having the best technology in a large and growing market. It's pretty standard technology and business development really. On the other hand if your in an old industry, you need to buy politicians to make laws that protect you from the new and more modern businesses with their streamline management and without old inept and out of touch leadership.

HarveyD

Bk4 is on the right track. It is just a matter of time before clean extended range EVs become competitve with ICEVs.

Improved lower cost batteries is the key. New technologies should give up to 2X performance at half the price by 2020 or so and as much again by 2025-2030.

By 2025-2030 extended range BEVs will be competitive and start replacing ICEvs

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