Lithium-Ion Battery Maker Boston Power Secures $290 Million In Funding From China

3 years ago by Eric Loveday 11

Boston-Power is using second generation technology that helps counter the heat and longevity issues currently in first generation batteries.

Boston-Power is using second generation technology that helps counter the heat and longevity issues currently in first generation batteries.

Boston Power's Swing 5300 cells - specifications

Boston Power’s Swing 5300 cells – specifications (click to enlarge)

Lithium-ion battery manufacturer Boston Power has secured a massive amount of funding in the form of $290 million from two local governments in China.  The funding will be used to support the expansion of two of Boston Power’s facilities in China:

“The company’s Liyang facility will receive a total investment of $160 million, increasing its manufacturing capacity fivefold by 2016. The company’s Tianjin facility will grow its capacity to 4GW by 2017, and is expected to reach 8 GWh in manufacturing capacity by 2018.”

States Green Car Congress.

These expansion are necessary to accommodate China’s growing demand for electric cars

“China’s EV market is expected to reach US$35 billion by 2020, with demand for high-end lithium-ion batteries hitting 100 GWh.”

Adds Green Car Congress.

Sonny Wu, chairman of Boston Power, commented:

“China is the largest and fastest growing EV market in the world and leads in the manufacturing of Eco-EV and E-buses. Our analysis shows that this market will experience significant battery supply constraints over the next 3-5 years which we aim to address.”

Source: Green Car Congress

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11 responses to "Lithium-Ion Battery Maker Boston Power Secures $290 Million In Funding From China"

  1. ggpa says:

    The attached data sheet is interesting. These cells take as much space as 2 of the common 18650.

    The mAh rating seems average, high end 18650 battery packs will beat this.

    I guess their success will depend whether they can compete on price

    1. MTN Ranger says:

      Probably doesn’t have to compete on price since they will be for the Chinese domestic market.

      1. Mikael says:

        Which is one of the most competitive, so they will definitely have to compete on price.

        Or rather if they can’t produce them at a low enough price they will be eaten alive.

        1. przemo_li says:

          Unless competition comes from OUTSIDE of China.

          China is really pursing domestic industry.

          And lets face it. Battery industry is as important as Oil industry.

          1. Mikael says:

            Well that is a whole other thing. And very true. Trying to import batteries to China en masse would make it hard for you, and that’s why the manufacturers put a factory in China no matter your origin country.

            And it’s also one of the reasons Tesla will have a battery factory and car manufacturing plant there pretty soon (assuming they finally can get some decent sales there).

    2. Mint says:

      High density 18650’s don’t have the cycle life that these do, and probably need more pack weight to have equal safety.

      The only thing bad about these cells, IMO, is the slightly low power density. 2.5C continuous, 5C max for a 10s pulse.

  2. sven says:

    They should change their name to Beijing Power.

  3. Grumpy says:

    Let’s hope they have better luck producing quality batteries than the solar industry had making good panels. Quality and durability tends to be the biggest losers in the race to low prices and consumers end up being the real losers.

  4. Tech01x says:

    It seems it has no water jacket, so no liquid thermal management. With a charging operating temperature limit at 140 degrees, I’m really not sure air cooling is going to be enough at the max charge rate to avoid measurable damage in hot environments.

  5. Lensman says:

    $290 million to increase the supply of li-ion batteries sounds like lot, if you don’t know that Tesla plans for a $5 -billion- battery “Gigafactory”.

    Who knows? Maybe all the battery makers in the world, put together, will wind up increasing EV battery factory capacity as much as Tesla, over the next two years. But so far, that’s not looking very likely. Yeah, $290 million will go further in China than it will in Nevada, USA… but I seriously doubt it will go -that- much further.

    1. Mikael says:

      Tesla are still a long way from investing 5 billions (including external investments) in the gigafactory.

      And the full output will not be available until 2022-2023 or so. 2020 if you’re optimistic. That’s 5 years.

      So the competition combined will easily outrun the Tesla numbers, but that’s a good thing.