The status quo and future trends of new energy vehicle power batteries in China — Analysis from policy perspective

Abstract

Since the Chinese government set carbon peaking and carbon neutrality goals, the limitations and pollution of traditional energies in the automotive industry have fuelled the development of new energy vehicles (NEVs). As a strategic emerging industry, the NEV industry is booming, and the country will vigorously promote it in the future. As one of the core technologies of NEVs, power battery accounts for over 30% of the cost of NEVs, directly determines the development level and direction of NEVs. In 2020, the installed capacity of NEV batteries in China reached 63.3 GWh, and the market size reached 61.184 billion RMB, gaining support from many governments. To this end, China has introduced a series of policies to support the NEV battery industry. It has achieved notable results, but some urgent problems need to be solved. Based on the policies implemented by the government in recent years that promote the development of the NEV battery industry, this paper summarizes the achievements while analysing striking problems that exist. These problems include the lack of various policy support measures, lack of policy support for the upstream industries, lack of talent policies, and inadequate supervision of support funds. Based on the experience of the world’s leading countries, suggestions are made to optimize the policy support for the automotive battery industry in terms of building a sound system of cultivating talents, enriching support measures, further improving the layout of the battery industry, increasing the subsidies for the upstream industries and strengthening the supervision of support funds.

Keywords

• New energy vehicles
• Car battery
• Core technology
• Policy support