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China sets worldwide trends in the use of electric vehicles. China continually prioritizes innovation and progress in the agricultural sector. In terms of agricultural land area, China is relatively large compared to other nations.
The e-tractor is good for the environment since it produces no emissions. Traditional tractors utilize either diesel or gasoline as their main fuel and a hydraulic fluid-powered gearbox. Electric tractors don’t.
They are run on rechargeable electronic batteries, which can be recharged by plugging them into a socket. The agricultural business is moving toward battery-operated vehicles since electric tractors offer better efficiency and require less maintenance.
In China, the main industries where electric tractors are employed more widely are logistics and transportation. Since China is a major global industrial hub, the demand for less expensive means of transportation and logistics drives up the market for electric tractor batteries in China.
The China Electric tractor battery market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
Exide Industries, the leading manufacturer of electric tractor batteries in India, has announced plans to partner with SVOLT Energy Technology of China to create a lithium-ion cell production facility.
The multi-gigawatt greenfield Li-ion cell facility’s construction will be done in two stages. The plant, which is anticipated to begin operating in the next few years, would initially have a 6 gigawatt-hour (GWh) annual production capacity, with a target of increasing to 12 GWh in 8–10 years.
Exide Industries and SVOLT, a high-tech lithium-ion manufacturer with its headquarters in Jiangsu, have agreed to work together technically. Under the terms of this agreement, SVOLT will irrevocably grant Exide the right and license to utilize, exploit, and commercialize the technology and know-how required for the production of lithium-ion cells that SVOLT owns.