China Already Makes as Many Batteries as the Entire World Wants
The cell oversupply picture is going to get worse before it gets better.
Batteries for Volkswagen electric vehicles on display at a Gotion High-tech Co. production facility in Hefei, China.
Photographer: Qilai Shen/BloombergThanks for reading Hyperdrive, Bloomberg’s newsletter on the future of the auto world.
As the US ramps up its efforts to onshore the lithium-ion battery supply chain, an uncomfortable truth is emerging: The world is awash in battery manufacturing capacity, and it’s going to make life very difficult for new entrants.