china is about to bury elon musk in batteries

As Elon Musk is about to build the world\'s largest battery plant in the Nevada desert, China is ready to put him in trouble.
Chinese companies plan to increase factories with capacity exceeding 120giga Watt-
According to a report released this week by Bloomberg News, working hours a year by 2021.
This is enough to power about 1 battery.
5 million Tesla Model S or 13.
7 million Fengtian Prius plug-
According to data from Bloomberg New Energy Finance, the annual sales of hybrid vehicles.
By contrast, when Tesla finished in 2018
The gigabit factory will reach 35 gigawatts.
Battery life every year. Lithium-
Ion batteries have long been used for smartphones, laptops and other personal electronics, but with the proliferation of electric vehicles and the installation of large storage systems by power companies to smooth the tide of wind and solar energy, demand is expected to break out in the next five years.
Telsa produced nearly 84,000 vehicles in 2016 and said it plans to produce 500,000 in 2018.
While Tesla may be building the largest and most eye-catching plant, the Chinese government has launched a comprehensive effort to boost China\'s dominant market share.
About 55% of lithium worldwide
China has started producing ion batteries, compared with 10% in the United States. S.
By 2021, China\'s share is expected to grow to 65%, according to Bloomberg New Energy Finance.
\"This is about industrial policy.
Chinese government believes Lithium
\"Ion batteries are a very important industry for 2020 and beyond,\" said Colin mckerche, an analyst at Bloomberg New Energy Finance.
Overall, global battery
Production capacity is expected to more than double to 273 gigawatts by 2021
Hours, from about 103 giva-hours today.
This is a huge opportunity that China does not want to miss.
\"The gigabit plant announced three years ago triggered a global battery arms race,\" said Simon Morse, general manager of Benchmark Mineral Intelligence . \".
\"China is pushing hard.
But don\'t count Tesla.
Headquartered in Palo Alto, California, the company plans to announce the location of up to four new plants by the end of 2017. (
It is exploring at least one site in Shanghai. )
Moreover, few Chinese battery companies can match the size of Tesla\'s production.
However, while China lacks a dominant battery behemoth, it makes up for it with a range of smaller players including Amperex Technology Ltd.
Tianjin Lishen Battery Co. , Ltd. Stock Co.
And dozens of others.
Earlier this year, the Chinese government announced plans to integrate battery manufacturers to help the battery industry mature.
The initiative is in sync with China\'s plan to flood highways with 5 million electric vehicles by 2020.
China\'s ambition to become a global leader in clean cars is partly due to the removal of pollution from smog.
The streets of Baoding, Xingtai, Shijiazhuang and other cities are congested.
Logan Goldie says there is a second reason: to create a domestic market for Chinese battery manufacturers
Scot, New Energy Finance analyst at Bloomberg.
Gao Di: \"The Chinese government wants to encourage the establishment of a domestic market to build a large enough Foundation and gain a firm foothold . \"Scot said.
\"From there, they can expand and sell globally.