Reported 7 months ago
A new report from BloombergNEF warns that the global wave of battery factories being constructed will lead to a surplus in production capacity, exceeding the demand in the global economy. The increasing demand for lithium-ion cells due to electric vehicle adoption and utilities installing large batteries for power grid stability has prompted manufacturers to announce numerous new factories, resulting in a forecasted oversupply by the end of 2025. The surplus will challenge new entrants to the battery industry, especially in China, the US, and Europe, where government incentives clash with the looming battery overcapacity.
Source: YAHOO