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Position:news > parts > Microvast’s Battery Export Volume Expected to Double in 2020

Microvast’s Battery Export Volume Expected to Double in 2020

2020-11-24    Source:www.chinabuses.org
Summarize:Lei Bingnan, president of Microvast Asia Pacific took an interview with China Central Television and revealed that the company’s export volume of batteries jumped by over 68% year on year from January to August this year. It is expected that its exports of batteries will double by the end of this year.

Recently, Lei Bingnan, president of Microvast Asia Pacific took an interview with China Central Television and revealed that the company’s export volume of batteries jumped by over 68% year on year from January to August this year. It is expected that its exports of batteries will double by the end of this year.

Since fully restoring its production in August this year, Microvast has been producing 80,000 units lithium batteries each day and has been working against the clock to meet the fast growing demand from customers across the globe.

According to Microvast, it will launch the construction of its third phase production lines earlier next year and thus will increase its production capacity by three times to 16GWh.

The continued drop of the prices of raw materials and the growing productivity have both contributed to the sharp growth of Microvast’s export volume, according to Xu Guorong, vice president of Microvast.

Statistics show that both China’s production and sales volume of electric vehicles exceeded 160,000 units in October this year, making new records in China’s new energy vehicle industry.

Editor:Isabella

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