Many people believe that China may eventually surpass other traditional car-making powers such as Europe, the United States and Japan in the field of electric vehicles, but without any technological breakthroughs in the field of batteries, this is a myth.
In recent years, there are endless news reports about China's investment in electric vehicles. Some argue that China lags behind Europe in diesel vehicle manufacturing and behind the United States and Japan in gasoline vehicle manufacturing, so China has been focusing on developing electric vehicles. But if China lacks the right technology, how can it surpass those countries? Only appropriate technology can ensure that China's electric vehicles become mainstream and eventually occupy the market; only technology can help reduce costs and significantly improve battery life.
Tesla, the U.S. -based electric car maker, has been in the news for a long time, but the company is losing money almost every quarter; BYD, the Chinese carmaker, has become a major player in the field, but its first-quarter profit fell by more than 80%. Even the biggest electric car makers are not profitable for two reasons: fast rising costs and falling government subsidies.
China sold 777,000 electric vehicles in 2017, while global prices for lithium have quadrupled. At least for now, lithium is crucial to the production of electric vehicle batteries. How can we turn about 30 million cars into electric vehicles without any technological breakthroughs?