Last year, demand for lithium-ion batteries that went into electric vehicles and stationary storage amounted to roughly 950 gigawatt-hours globally, according to estimates from BloombergNEF. At the same time, the total battery manufacturing capacity was almost triple, at about 2,600 GWh. At the end of next year, the total global announced battery manufacturing capacity is said to be 7,900 GWh or 7.9 terawatt-hours, while demand projections squeeze out a figure of 1.
This is because multiple nations across the world, including the United States and the European Union’s members, have imposed gradual carbon dioxide emission reductions for passenger cars, which can be reached by increasing the share of battery- or hydrogen-powered vehicles. China is the global leader in battery manufacturing, whether we like it or not, and it will continue to be for the foreseeable future.
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