China-Europe selects battery agent brand

How many battery-electric cars are exported from the EU to China?

11,499 battery-electric cars were exported from the EU to China in 2023, valuing €852.3 million. The market share of cars made in China in EU battery-electric sales has climbed from around 3% to over 20% in the past three years. China is the third largest market by value for EU vehicle exports after the US (ranked first) and the UK (ranked second).

Are Chinese batteries coming to the UK?

The UK is eighth with just 20GWh. In addition to battery production that has already been announced, a slew of Chinese brands, from BYD to Great Wall and Nio, plan significant sales growth in Europe. This will, in time, mean vehicle assembly and even more battery plants that are also likely to use Chinese technology.

Which companies are receiving funds for battery research in China?

The Chinese government has provided 6 billion yuan (nearly $830 million) to Chinese companies including CATL and BYD to research and develop the next generation of solid-state batteries in China.

Should the battery industry move to Europe?

But Olivier Dufour, co-founder of French battery start-up Verkor, said: “What has happened in the past two or three years [Covid-19 and the Ukraine invasion] confirms the need to relocate the industry in Europe and be independent on sourcing.”

Should China invest in battery factories in Europe?

Nuria Gisbert Trejo, director-general of CIC Energigune, a Spanish energy storage research institute, thinks Chinese investment in battery factories in Europe is a problem because they reduce Europe’s independence and autonomy in a key sector for the future.

Who leads the global EV battery market?

In the global EV battery market, Chinese manufacturers hold about 75 percent of the market. The top two Chinese companies, Contemporary Amperex Technology Co. Ltd. (CATL) and LG Energy, hold 65 percent and 14 percent of the market, respectively. By 2030, Morgan Stanley predicts that CATL alone will account for 35 percent of batteries sold in the European market.