As Saudi Arabia redirects more and more crude oil from the east to the west, where it can be safely exported, oil seems to be the only thing everyone is watching. But not Saudi Arabia itself. In fact, the world’s second-largest oil producer and exporter has big plans in another area: battery storage. Battery storage…
By Colleen Howe BEIJING, Dec 22 (Reuters) – A revamp of China’s electricity market is boosting the energy storage economy just as international demand surges, sparking a boom for Chinese energy storage makers that already dominate globally. Chinese companies are on track to achieve a 75% increase this year in global shipments of lithium-ion battery…
Last year, China’s battery industry’s average utilization rate plummeted to just a third of peak capacity amid serious overcapacity after years of massive investment and expansion. This put smaller manufacturers under severe pressure and drove further consolidation of the industry, while forcing producers to increasingly look for markets abroad. Fortunately, these efforts appear to be…
