Word: markets
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Dates: during 2000-2009
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...opened up, transforming an impoverished country into a miracle of history. With a booming economy, a huge population, remarkably high economic growth and with more affluent Chinese willing to spend big bucks on luxury goods, no wonder investors from everywhere are pouring much of their resources into the Chinese market and trying hard to woo many Chinese consumers and companies to their own homelands. China has a emerged as a global superpower, and this century may very well be a Chinese century. Chern Nee Chua, Singapore...
Just under 7,000 miles (11,000 km) away, in the industrial northeastern Chinese city of Tianjin, Richard Liang, Tianjin Lishen Battery Co.'s vice president of marketing, passes by photos of Chinese state leaders before he reaches a display that contains the heart of the Coda: a gray box of power cells that makes up the car's lithium-ion battery. Lishen manufactures the $12,000 battery as part of its pioneering joint-venture deal to build and sell an electric car in the U.S. and, eventually, China. The idea is simple - Lishen, one of the biggest battery manufacturers...
...technology today - on cost and on performance. "When it comes to electric and hybrid cars, China is challenging the automotive industries in the Western industrial countries," writes Wolfgang Bernhart, a consultant with Roland Berger who estimates that electrics and plug-ins could account for more than half the auto market in China by 2020. "The race for electric mobility is just getting under way." (See the history of the electric...
Priority Lane It won't be an easy race for China to win. The Chinese auto industry is fractured and weak. The domestic market is dominated by foreign manufacturers such as GM (which is doing much better in Beijing than it is in Detroit) and Volkswagen. But the government in Beijing has made it very clear that it considers electric and plug-in vehicles a priority for Chinese companies, and it's willing to spend. The Chinese State Council announced in January that it would spend $1.6 billion over the next three years to develop alternative fuels, and there...
...Lishen told TIME it is in discussions with 20 Chinese electrical-vehicle manufacturers to supply power systems for their cars. And while much of the attention is on how American, Japanese or European customers will respond to electrics, Chinese drivers could push the technology fastest. Auto markets are shrinking or stagnant in most countries, while the Chinese car market is still growing rapidly, even in the midst of a recession. And Chinese customers may prove more receptive to electric vehicles than their international counterparts. For an American driver who has owned a car for years and is accustomed...