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Should Europe rely on China for battery technology?

China dependency Europe already relies on China for battery technology, said Guido Cozzi, an economist at the University of St. Gallen in Switzerland. “It is not too late, but I think they should act pretty fast, because China is moving very fast in this sector,” Cozzi told VOA.

Which country produces the most EV batteries in the world?

China supplies about 80% of the world’s lithium-ion batteries and is home to six of the world’s 10 largest EV battery makers, according to BloombergNEF. The country’s rapid expansion — its cell production capacity is already much higher than global EV demand — has depressed prices, raising the bar for new entrants.

Can EV batteries be greener in Europe?

It’s a painful reality for Europe, whose enthusiasm for companies such as Northvolt had been fueled by a vision to cut dependency on China by creating greener EV batteries using 100 percent recycled nickel, manganese, and cobalt.

Which companies are stalling battery production in Europe?

Besides Northvolt, Mercedes-Benz Group AG and Stellantis NV have stalled work on two battery plants in Germany and Italy, while Volkswagen has said its European cell factories should take longer to reach capacity. UK battery startup Britishvolt closed for business last year as well.

Where are xinwangda batteries made?

FILE - A worker is pictured with car batteries at a Xinwangda Electric Vehicle Battery Co. plant, which makes lithium batteries for electric cars and other uses, in Nanjing, China, March 12, 2021.

Is a lack of domestic battery manufacturing threatening Europe's automotive industry?

“The failure to establish domestic battery manufacturing capabilities threatens the very existence of the automotive industry in Europe,” said Andy Palmer, former chief executive officer of Aston Martin Global Lagonda Holdings Plc.