Cleaner Tech
The World Needs More Batteries — But Not This Many
Proposed plants would have the capacity to make more cells than global economy requires.
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The wave of battery factories under construction around the world will be able to produce far more cells than the global economy needs, BloombergNEF warns in a new report.
Demand for lithium-ion cells is growing fast, as automakers electrify their fleets and utilities install big batteries to stabilize the power grid. But manufacturers have announced so many new factories that capacity will outstrip demand for the rest of the decade, according to BNEF.