HEFEI, China (Reuters) – China’s push towards carbon neutrality as well as its growing manufacturing might will allow electric vehicles (EV) to compete equally with standard cars by 2030 and drive the sector to new heights, the head of a leading Chinese EV battery maker said.
“Obviously, battery cost is the main driver,” said Peng Zhou, chief executive of Octillion Power Systems, a lithium-ion battery supplier headquartered in Hefei in Anhui province. “Economies of scale alone, coupled with innovation, will be sufficient to reach the parity line by 2030.”
China, the world’s biggest producer of climate-warming greenhouse gases, aims to bring emissions to a peak before 2030 and to become carbon neutral by 2060.
Tougher emission standards, more competitive EV models and a national commitment to curb greenhouse gas are driving growth, said Zhou, whose firm designs and builds customised battery modules …
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