Press release
Source: Germany Trade and Invest (Germany)
Berlin, Germany - The automotive battery industry is growing at a rapid rate despite the economic crisis. The increased focus on hybrid and electric vehicles has led to battery innovation and market growth. With heavy investment in research and development, Germany is positioned to be a global leader in this market segment. Business opportunities in Germany resulting from this trend will be presented at the Advanced Automotive Battery & EC Capacitor Conference in Long Beach, California from June 8-12.
The segment has a domestic market volume of roughly USD 900 million, which is expected to grow as high as USD 10-15 billion by 2015, according to Fraunhofer Magazine. Germany's automobile industry is accelerating this trend. The major German automakers are working on a variety of battery-supported transportation solutions: more than ten hybrid and full electric vehicle models are slated for release by 2010. This includes new autos from Daimler, BMW, Porsche, Audi, Volkswagen, and Opel.
Cooperation in this field offers a number of possibilities for international partnerships and investment. For example, Daimler has decided to take a ten percent share of Tesla Motors, a California-based start-up. The company supplied batteries for the electric versions of Daimler's Smart vehicles, which will begin production at the end of 2009. Daimler has also entered into a strategic alliance with the German company Evonik to further Lithium-ion battery development.
As part of the National Strategy Conference for Electric Mobility, the German Federal Government recently set the goal of having one million electric vehicles and plug-in hybrids on German streets by 2020, which would make Germany the leading market worldwide. To do this, they plan to support each step of the process, from battery research to market implementation.
The industry benefits from political support, due to a number of factors: Battery-powered cars hold long-term potential to reduce carbon dioxide emissions, curb global warming, and reduce foreign oil dependency. At the same time, they reduce noise and pollution in cities and contribute to a higher quality of life.
Dedication at the political level has been strengthened in light of the current economic downturn. Within the framework of the German economic stimulus program, over USD 700 million have been allocated for research funding in the area of electric mobility. Interest-reduced loans and grants can be received for developing new battery technology, as well as other hybrid drives and fuel cell technologies.
Source: Germany Trade and Invest (Germany)
Berlin, Germany - The automotive battery industry is growing at a rapid rate despite the economic crisis. The increased focus on hybrid and electric vehicles has led to battery innovation and market growth. With heavy investment in research and development, Germany is positioned to be a global leader in this market segment. Business opportunities in Germany resulting from this trend will be presented at the Advanced Automotive Battery & EC Capacitor Conference in Long Beach, California from June 8-12.
The segment has a domestic market volume of roughly USD 900 million, which is expected to grow as high as USD 10-15 billion by 2015, according to Fraunhofer Magazine. Germany's automobile industry is accelerating this trend. The major German automakers are working on a variety of battery-supported transportation solutions: more than ten hybrid and full electric vehicle models are slated for release by 2010. This includes new autos from Daimler, BMW, Porsche, Audi, Volkswagen, and Opel.
Cooperation in this field offers a number of possibilities for international partnerships and investment. For example, Daimler has decided to take a ten percent share of Tesla Motors, a California-based start-up. The company supplied batteries for the electric versions of Daimler's Smart vehicles, which will begin production at the end of 2009. Daimler has also entered into a strategic alliance with the German company Evonik to further Lithium-ion battery development.
As part of the National Strategy Conference for Electric Mobility, the German Federal Government recently set the goal of having one million electric vehicles and plug-in hybrids on German streets by 2020, which would make Germany the leading market worldwide. To do this, they plan to support each step of the process, from battery research to market implementation.
The industry benefits from political support, due to a number of factors: Battery-powered cars hold long-term potential to reduce carbon dioxide emissions, curb global warming, and reduce foreign oil dependency. At the same time, they reduce noise and pollution in cities and contribute to a higher quality of life.
Dedication at the political level has been strengthened in light of the current economic downturn. Within the framework of the German economic stimulus program, over USD 700 million have been allocated for research funding in the area of electric mobility. Interest-reduced loans and grants can be received for developing new battery technology, as well as other hybrid drives and fuel cell technologies.