"The mainland [China] is about to replace its three-year electric vehicle subsidy programme with an ambitious new one, targeting 2 million electric vehicle sales annually and 5 million in accumulated shipments by 2020.
It’s a substantial step up. Unit sales are expected to reach 292,000 this year, and the market will need to sustain a compound annual growth rate of 48 per cent to meet the 2020 target, Nomura analysts say.
... All this means surging demand for electric vehicle batteries. Nomura analysts say the market will grow from 14 gigawatt-hours to 99 GWh by the end of the decade, and suppliers have already ramped up supply to an estimated 23 GWh."
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