Tianneng storing hope in batteries

Fires in vehicles and the high price of energy storage technology have hampered the market for batteries powering electric vehicles.

But that is not stopping Tianneng Group, Chinese largest battery manufacturer, from investing in a market expected to be worth more than 200 billion yuan within a few years.

Zhang Tianren, chairman of Tianneng Group, the first battery company listed on the Hong Kong Stock exchange in 2007, is betting that more Chinese will be flocking to low-speed electric vehicles and using its batteries for driving in small cities and the rural-urban fringe.