Europe’s Battery Supply to Ramp Up by 2030
The companies with the highest production in 2030 are Northvolt, Freyr, ACC, CATL, and the Volkswagen Group. This would mean that European firms would produce around 58% of the goods consumed in Europe, with Chinese firms producing 22%.
Currently, EU battery manufacturing meets 50% of the demand in 2022, largely due to LG Chem in Poland and Samsung SDI in Hungary. By 2025, the demand is expected to be met by 72%, and more than 100% by 2027, if all speculative projects go forward.
However, for Europe to become self-sufficient, it must create a robust industrial strategy to ensure that these investments are made. Europe is well-positioned to meet the battery demand of the industry’s potential scenario, with over 50 gigafactory projects currently planned.
Europe’s increasing battery production could be a game-changer for the industry, allowing manufacturers to better meet the demand for electric vehicles and other energy-hungry devices. With the right investments, Europe could become a leader in battery production, creating a more sustainable and cost-effective battery industry.
Source: A European Response to US IRA | Transport & Environment
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