This has, in turn, fueled the ambition of Chinese EV battery-makers.

According to BYD, the Qinghai factory will be marked by world-class information technology that is intelligent and automated. It will start operations next year with an annual capacity of 24 GWh.

Wang Chuanfu, chairman of the Shenzhen-based company, believes the new energy automobile industry as well as the battery storage segment are expected to see a boost as governments worldwide are issuing timelines to ban traditional fuel vehicles.

The upcoming Qinghai plant, entailing a 25 billion yuan ($3.78 billion) investment, is part of the company's long-term commitment to build a total capacity of 60GWh by 2020. It will add to BYD's current output of 16GWh.

Like BYD, many auto-makers worldwide are stepping up efforts in developing advanced chemistry-enabled EV battery technologies to accelerate all-electric vehicle production.

US' General Motors and Japan's Honda have vowed to jointly deliver "higher energy density, smaller packaging and faster-charging capabilities" for both companies' future products.

The two will collaborate based on GM's next-generation battery system with an understanding that Honda will source the battery modules from GM.

Contemporary Amperex Technology Ltd has also vowed to invest 240 million euros ($281 million) on a production base in central Germany, which will start operations in 2021 with an annual output capacity of 14 GWh.

"We hope to bring the world's most advanced power battery technology to Germany and offer them more timely and effective product solutions," said Zeng Yuqun, CATL's chairman.

China's new energy vehicle industry has witnessed rapid growth, thanks to national subsidies. Initially, in 2001, sales accounted for a mere 0.03 percent of the total vehicle sales. That figure swelled to almost 2.7 percent in 2017, making China the biggest new energy vehicle market worldwide.

According to Kou, different countries have chosen different technology pathways toward new-generation batteries.