China's battery industry is charging ahead and has undergone rapid development as companies increase research and development and harness technological gains to empower traditional industries while taking advantage of a more complete industrial chain to go global.
At the ongoing 135th session of China Import and Export Fair, known as the Canton Fair, multiple high-tech, battery-powered products have captured the attention of many worldwide visitors who have descended on south China's Guangdong Province for the event.
Paul, a Brazilian buyer attending the fair, was impressed by an electric forklift, particular its powerful battery range and higher lifting capabilities and said he was keen to put in an offer.
One of the battery producers dedicated to the full electrification of forklifts is the Tianneng Battery Group, which is based in Huzhou City of east China's Zhejiang Province, known as a major sci-tech hub.
The company manufactures various kinds of battery modules and are targeting the big international markets with their energy efficient products. The enterprise also attaches great importance to research and development and has set up labs as it constantly looks to improve its battery performance. "Our research and development expenses account for more than 10 percent of our total sales revenue. Demand is gradually increasing for high-capacity batteries for forklifts," said Guo Xin, director of the research institute for the Tianneng Battery Group.
In addition to making breakthroughs in battery technology, Tianneng is also looking to tap into new business opportunities across a wider range of industries such as in the agricultural and industrial sectors.
"The world is shifting towards electrification in a more and more noticeable way. In addition to transportation, we are also actively expanding the application of our batteries in other fields. Meanwhile, we have provided technical support to enterprises to electrify ships and trucks," said Guo.
The battery industry's robust development is partly attributed to China's more complete industrial and supply chains, which have provided solid support for the resilience of foreign trade. Meanwhile, every link in the industrial chain is making progress, according to insiders, who say these advancements are creating new advantages for China's foreign trade.
"China has a super large market and complete industrial chains, which creates favorable conditions for companies to increase the input and output of research and development. Notably, new technologies such as artificial intelligence and big data have empowered traditional industries, and meanwhile have accelerated technological iteration and innovation in emerging industries, which enables related industries in China to continue to elevate their position on the global value chain to the mid-to-high end," said Liu Chun, vice president of the Chinese Chamber of Commerce for Import and Export of Machinery and Electronic Products.
In the first quarter of this year, China's mechanical and electrical product exports accounted for over 59 percent of the country's total value of exports. During that period, China saw more high value-added products being shipped overseas, with the exports of mechanical and electrical items growing by 6.8 percent.
China's battery industry powers up with increased research, development
