Mar 18, 2017

China's plan to conquer $40B electric car battery market

Mic via Flickr CC

Chinese battery companies are on the path to be the biggest battery factories in the world, per the Financial Times.

Why this matters: Lithium batteries power electric vehicles, and Goldman Sachs estimates by 2025 China will dominate the market, which will be worth $40 billion by then. By 2020, Chinese battery companies plan to have the capacity to produce 121 GWh of batteries, according to Bloomberg New Energy Finance.

For context: Tesla's gigafactory with Panasonic plans to reach full capacity next year at just 35 GWh. A single GWh can power 40,000 electric cars to each travel 100km.

What to watch: China did this with solar power by driving down costs and prices, too. This time around, China's ascent could knock aside South Korean and Japanese production, which have been leaders in battery production since the 1980s, as well as U.S. and European production. Tesla and Panasonic did not return requests for comment.

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Acting Navy secretary resigns over handling of virus-infected ship

Thomas Modly. Photo: Chip Somodevilla/Getty Images

Acting Navy Secretary Thomas Modly resigned Tuesday after apologizing for comments he made about Capt. Brett Crozier, who was removed when a letter he wrote pleading with the Navy to address the coronavirus outbreak aboard the USS Theodore Roosevelt was leaked to the press. The resignation was first reported by Politico.

Why it matters: The controversy over Crozier's removal was exacerbated after audio leaked of Modly's address to the crew, in which he said Crozier was either "too naive or too stupid to be a commanding officer of a ship like this." After initially backing Modly's decision, President Trump said at a briefing Monday that he would "get involved."

Go deeperArrowUpdated 15 mins ago - Politics & Policy

Appeals court allows Texas abortion ban to remain during coronavirus outbreak

Gov. Greg Abbott. Photo: Tom Fox-Pool/Getty Images

A federal appeals court in Texas ruled 2-1 in favor of an executive order by Republican Gov. Greg Abbott on Tuesday that prohibits abortions during the coronavirus outbreak.

The big picture: Abbott last month issued the order banning elective procedures in an effort to save medical supplies like masks and gowns for health workers treating the coronavirus. Texas Attorney General Ken Paxton noted one day later that the order applied to abortions — unless the woman's life is at risk.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 5 p.m. ET: 1,412,103— Total deaths: 81,103 — Total recoveries: 298,352Map.
  2. U.S.: Total confirmed cases as of 5 p.m. ET: 386,800 — Total deaths: 12,285 — Total recoveries: 20,191Map.
  3. Federal government latest: Acting Navy secretary resigns over handling of virus-infected ship — Trump removes watchdog overseeing rollout of $2 trillion coronavirus bill.
  4. Business latest: America's food heroes in times of the coronavirus crisis.
  5. World latest: China reopens Wuhan after 10-week coronavirus lockdown.
  6. Wisconsin primary in photos: Thousands gathered to cast ballots in-person during the height of the coronavirus crisis in the U.S.
  7. What should I do? Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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