A Look at China's Electrifying Battery Market YES, I want free trades through Zecco.com!
New Energy Systems Group (OTC:NEWN), China Sun Group High Tech Co. (OTC:CSGH), China Ritar Power Corp. (NASDAQ:CRTP), and other Chinese battery manufacturers could see substantial upside amid government incentives to switch to electric power despite some efforts to curb electric bike usage.
LiON Battery Demand Only Growing in China
Global battery demand is projected to increase about 5% annually through 2010 but China will record the largest gains and surpass the U.S. as the largest market share, according to many analysts and economists.
The China Battery Industry Association predicts that demand for portable and green technology will fuel a 30% annualized growth in demand for lithium-ion batteries in China alone over the next five years.