Svolt Energy, a high-tech company based in Hina, introduced its new EV battery products to European OEMs at the 2019 International Automobil-Ausstellung (IAA) in Germany. During the fair, the independent manufacturer presented its NCM 811 series of batteries, a reliable and economical solution for EV based on stacking technology.
According to Svolt, they are coming in Europe on the eve of an uprising in the automotive industry, which is probably the biggest in a century and motivated by electrification trends. Considering the 2015 Paris Agreement, the EU reduced vehicle CO2 emissions to 95 grams per 95 km, which encouraged the approval of large-scale electric vehicles. The European transport and environment organization predict that the number of electric vehicles in Europe will be multiplied by six between 2019 and 2025 to meet this demand, production capacity, innovation and access to affordable batteries should increase.
General manager of Svolt, Yang Hongxin said, “It is projected that the electric vehicle market will reach the turning point in the next five years when the price of electric vehicles will be comparable to that of combustion engines. One of the main factors of the trend is the cost of the battery. With reliable, energy-efficient and economical batteries that reduce the cost of purchasing an electric vehicle, cars with new energy will soon turn out to be the worthwhile option for new buyers.”
He added, “The EU and China are accelerating acceptance of electric vehicles and ever-changing digital technologies have already begun to accelerate the transformation of the manufacturing sector. We think the EU and China are the two largest electricity markets shortly. We will intensify our electric vehicle strategy to meet this inevitable demand.
“Investing in Europe equals to spending in the European mobility’s future,” said Yang Hongxin. “Our European market strategy is flexible and open and we welcome cooperation opportunities in the region.
To meet growing demand in the region, Svolt announced plans to set up its first factory in Europe and presented its regional development strategy.