US looses control to China over the $ 46 billion lithium battery industry.
United States has ranked # 2 in the global lithium-ion battery supply chain rankings this year, according to Bloomberg.
United States has ranked # 2 in the global lithium-ion battery supply chain rankings this year, according to Bloomberg.
The US is the second-largest electric vehicle market in the world after China, and Tesla and Asian battery manufacturers are making “significant” investments in the country as government policies help build an internal battery supply chain.
China continues to dominate the rankings thanks to continued investment and strong local and domestic demand for its lithium-ion batteries. The Asian country now hosts 80% of all battery cell manufacturing capacity, with capacity expected to more than double, enough to power more
than 20 million electric vehicles over the next five years, the report said. European countries are also climbing up in the rankings as sales of light electric vehicles grow steadily, as do queues for them.
Duty-free trading in Europe means that the demand for batteries in Europe is second only to China. If we evaluate Europe as a whole, it ranks first in both the 2021 and 2026 rankings.
Titan.
Titan.
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