Chinese power batteries are chasing after Japanese and Korean products

BAIC Motor signed a new framework agreement with Daimler on July 5th to co-invest RMB 5b to establish a BEV production base and power battery factory in Beijing.

This is the first time that a global auto giant plans to establish power battery factory in China. There are great concerns that alternative energy vehicles will be controlled by foreign capital, considering that power batteries are the key parts.

In fact, the localization of global auto giants will influence the domestic power battery industry greatly. Five largest domestic power battery providers are also adjusting strategies to seize the market.

Currently, foreign power batteries only account for a small proportion in domestic battery market. Chinese factories have possibilities to take chance and seize the market by large-scale production. In the past several years, Chinese power batteries have progressed greatly by the large market and implementation of technological and commercialization, forming strong competitive power across the globe.