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China Strengthens Lead as Supplier of Key EV Battery Parts
China has bolstered its already-dominant control of critical components in the batteries used to power electric cars, The Nikkei reports.
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China has bolstered its already-dominant control of critical components in the batteries used to power electric cars, The Nikkei reports.
The country already controls about 70% of the cathode and anode materials used in lithium-ion batteries. It also controls more than 75% of the market for electrolyte solutions and 45% of the separators for such power sources.
China is home to more than 40 battery makers, according to The Nikkei. The newspaper notes that the country’s advances have come at the expense of Japan’s battery industry, whose market share is about 20%.
The report says Japanese producers are betting on advanced technologies and the superior reliability demanded for EV batteries to bolster market share. “Current lithium-ion batteries cannot fully meet the needs of electric cars,” declares the head of research at Sumitomo Chemical Co.
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