· Samsung LG car battery was rejected in China for certification
Beijing time on June 22 news, LG Chem and Samsung SDI are South Korea's two largest car battery manufacturers, their batteries failed to obtain certification in China. China is the world's largest auto market, and certification failures mean that business expansion will suffer setbacks. LG and Samsung control one-third of the global electric vehicle battery market. On Tuesday, the two companies said that the recent application for battery certification in China was rejected. The Ministry of Industry and Information Technology rejected the application of LG and Samsung. As a result, if the electric vehicles install the batteries of the two companies, they may not be able to enjoy government subsidies. It is reported that China is considering restricting the subsidies for electric vehicles. Only cars with certified batteries are eligible for subsidies. The new policy will be implemented as soon as 2018. Analysts believe that in China, state subsidies can account for up to 40% of the price of electric vehicles. Without state subsidies, it will be quite difficult for battery suppliers to find buyers. In the same batch list, a total of 31 Chinese battery manufacturers applied for certification. LG and Samsung said that China did not inform the reasons for the refusal and they will continue to submit applications later this year. HwangYoo-sik, an analyst at NH Investment Securities in Seoul, South Korea, said: "There is a big uncertainty for Korean companies to continue to develop in China's electric vehicle battery market." In the past, China would give generous subsidies to electric buses. The policy has changed. If the battery installed by the electric bus comes from Samsung, LG and some other global manufacturers, it will lose the subsidy. In order to increase the market share of electric vehicle batteries, LG and Samsung have been very dependent on the Chinese market. Last year, China accounted for one-third of the global market. LG Chem built a battery factory in Nanjing, and Samsung SDI also built a factory in Xi'an. In October last year, the two companies began to aggressively enter the Chinese electric vehicle market. Each year, the battery produced by the LG factory can be used for 50,000 pure electric vehicles. The annual output of the Samsung factory can be equipped with 40,000 vehicles. LG has supplied batteries to about 20 electric vehicle manufacturers, including General Motors, Ford, and Hyundai. Shanghai Automotive and Chery are customers of LG, Zhengzhou Yutong and Beiqi Foton are Samsung customers. SK Innovation said in April this year that it is considering building an electric vehicle battery factory in China. Graphite Sheet,Carbon Graphite Sheet,Thermal Graphite Sheet,Pyrolytic Graphite Sheet CARBONS TECH&CREATION(HENAN) INDUSTRY CO.,LTD , https://www.kygraphitematerial.com