Battery boom: €400 billion forecast, more than experts assumed so far
The race for market share against China has long since begun. The European Batteries Directive therefore not only aims to protect the environment and human rights along the value chain, but is also a strategic instrument to secure Europe’s position in the battery industry, which is currently experiencing a battery boom. By 2030, demand for lithium-ion batteries will increase by 27% annually, according to a study by @McKinsey & Company.
Stomach ache in China? On the contrary, the new battery regulation is perceived as an incentive to meet European requirements. In April, CATL announced its intention to make its core business CO2 neutral by 2025 and to achieve carbon neutrality across the entire battery value chain by 2035.
The catch: without Chinese investment, it will be difficult to meet battery regulation targets. 90% of anodes and cathodes and 60% of electric cars currently come from China. It is of course interesting for these companies to invest here and meet the requirements.
We cannot do it with or without the Asian giant – it is important to strongly promote European projects to reduce our dependence.
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