Hyperdrive
China’s New Wave of Electric Car Battery Giants Are Going Public
Planned expansions by emerging suppliers will help Beijing keep its dominant position in the EV supply chain.
SVolt Energy Technology battery cells in Shanghai, China.
China’s New Wave of Electric Car Battery Giants Are Going Public
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It’s easy to think, with the blizzard of announcements around new EV battery capacity being added in Europe and the U.S., and a blockbuster listing for South Korea’s LG Energy Solutions, that China’s dominance of the sector is finally under serious challenge.
Automakers including GM and Ford are building U.S. battery facilities with partners from outside China, while Sweden’s Northvolt is adding more plants and has secured $50 billion of contracts from customers including BMW and Volkswagen.