China leads the EV battery race
HONG KONG -- While Asia dominates car battery production, China dominates the supply chain in terms of EV battery components, according to the global financial group, Natixis.
"Most EV battery components are currently produced by the three Asian battery powerhouses (China, South Korea and Japan), but China's leading role in the "underneath" components is more obvious than EV battery supply." Natixis says.
The report says that while competition between China and Japan was neck-and-neck for some years, the gap has widened in China's favour since 2014, with China's market share of EV battery components surging from 43% in 2014 to 60% in 2020.