Shandong's lithium-ion battery industry boom drives exports

Shandong province, a coastal province in eastern China, has seen a remarkable surge in exports of its "new trio" products: solar cells, lithium-ion batteries, and electric passenger cars. From January to May 2024, exports of these products grew by 61.2 percent, 58.8 percent, and 51.4 percent, respectively.

Leading this surge is the city of Zaozhuang, which has successfully transformed from a coal-dependent city to a major hub for the lithium-ion battery industry. The number of lithium-ion battery companies in Zaozhuang has skyrocketed from 24 in 2020 to 120 today, with a 95.8 percent year-on-year increase in total operating revenue in 2023. What's more, the city has managed to cultivate a complete industrial chain.

Shandong Haidi Energy, based in Zaozhuang, is a prime example of Shandong's successful foray into the global lithium-ion battery market. The company has established a global sales network, and its products have been integrated into the supply chains of numerous Fortune 500 companies and industry leaders. Recently, the company's newly designed AGV battery has received substantial orders from Germany, Denmark, the Netherlands, and Sweden.

Zaozhuang's success in the lithium-ion battery industry is a microcosm of Shandong's broader push into the new energy sector. Across the province, numerous companies are exporting their products to global markets, bolstering China's manufacturing prowess.

To further support the growth of its export-oriented enterprises, Shandong province is implementing a range of policies to expand markets, foster innovation, and improve services. By providing a conducive business environment, the province aims to solidify its position as a leading exporter of new energy products.