Octillion Power Systems is California based battery supplier. With their target in China market, they aim to become one of the largest EV battery supplier globally.
Chinese market
China is one of the highest countries in carbon emissions. The higher population means an increased number of private vehicles. Every electric vehicle company is focusing on China to have a global presence.
It isn’t just about potential, but also the government’s corporation. There are now laws, which allow the person who bought an electric vehicle to have a number plate too. As having a number plate takes months in China, the offer is an attractive one, luring its citizens to consider an EV as an option.
Besides the chip shortage, the EV sector has a battery problem. The majorly used battery is lithium-ion batteries, which Octillion is selling.
EV battery supply
Currently, the company is selling in the US market, in North America. They sell batteries to busses and motorbikes, to ABC companies and Lightening eMotors. These are fully electric vehicles, which have zero emissions.
The developed electric busses and motorbikes in Colorado are from current leading companies in the US market.
According to a statement given by the president of Octillion, Paul Beach, “While transportation is responsible for a quarter of global emissions, buses and diesel buses in particular play an outsized role in producing emissions that negatively impact the climate and environment. As people movers, they present these problems daily and up close to places where populations are most concentrated. Electrification of bus fleets has become a priority in many regions of the world, with nearly 500,000 EV buses now running globally.”
Furthermore, he also added, “Electric buses also offer the passenger less vibration, less noise, and zero exhaust. We seamlessly integrate our battery management system with the vehicle’s control unit, offering configurations of up to 800 volts and 640 kWh incapacity. That enables them to provide superior power and torque compared to diesel buses.”
Applying their similar tactics to China, and providing batteries to bikes and buses would be an ideal chance. In China, though Tesla has the largest market, local companies like Nio, are headed forward with higher sales ever.
Battery demand
The demand for electric batteries is immense, the manufacturing is a challenge. The Chief executive, Peng Zhou, stated, “Economies of scale alone, coupled with innovation, will be sufficient to reach the parity line by 2030.” Furthermore, he added, “We are assuming the carbon peak is going to occur and carbon neutrality is going to occur, and that pushes the entire sector.”
China now has tougher emission standards and more inclined towards environmentally friendly products. So, it shouldn’t be hard for Octillion to get into China market and make it global.