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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":716,"relatedVideos":717},112472155819061,"3a2dc673-bcff-4e0d-9949-2609301b608f","Chinese battery makers bet on Europe’s EV market","chinese-battery-makers-bet-on-europes-ev-market","article/chinese-battery-makers-bet-on-europes-ev-market",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":692,"featured":51,"reporter":693,"_editable":697,"component":698,"seo_title":543,"categories":699,"visibility":709,"author_company":49,"featured_image":710,"seo_description":692,"author_full_name":49,"author_job_title":49,"formattedDate":714,"formattedArticleDate":715},"b805f06a-1d02-413c-8496-b3e9a3021945","2022-12-02 00:00",[550,553],{"slug":551,"name":552},"china","China",{"slug":554,"name":555},"europe","Europe",[557],{"slug":558,"name":559,"content":560},"didi-bostock","Didi Bostock",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Editor - Energy Transition & Economics",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":567,"content":568},"doc",[569,576,581,596,601,606,615,622,627,632,637,642,649,654,659,664,677,682,687],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573],{"text":574,"type":575},"Chinese companies are set to produce almost a third of Europe’s batteries by the end of the decade, as they look to benefit from the continent’s growing sales of electric vehicles.  ","text",{"type":570,"attrs":577,"content":578},{"textAlign":49},[579],{"text":580,"type":575},"The share of Chinese involvement in cell production in Europe is set to increase from 8% by the end of this year to 22% of production by 2025 and to 29% of production by 2030, according to Benchmark’s Lithium Ion Battery Database.",{"type":570,"attrs":582,"content":583},{"textAlign":49},[584,586,594],{"text":585,"type":575}," Chinese battery companies have received a friendlier reception in Europe than in the US, where President Biden’s Inflation Reduction Act seeks to restrict the involvement of Chinese companies. They have already become key suppliers to Europe’s largest automakers, with Volkswagen owning a stake in ",{"text":587,"type":575,"marks":588},"Gotion",[589],{"type":590,"attrs":591},"link",{"href":592,"uuid":49,"anchor":49,"target":49,"linktype":593},"https://source.benchmarkminerals.com/article/gotion-targets-100-gwh-overseas-expansion-as-it-launches-german-battery-pack-plant/","url",{"text":595,"type":575},", and CATL supplying Mercedes-Benz. ",{"type":570,"attrs":597,"content":598},{"textAlign":49},[599],{"text":600,"type":575},"Europe’s EV penetration rate is at 18% year-to-date, while the US is at 6% and China at 24%, according to data from Rho Motion. By the end of the decade EV sales are set to rise to 60% new sales in Europe, compared to 32% for the US. ",{"type":570,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":575},"“Europe is seemingly preferred over North America. Within Northern Europe in particular, there’s greater EV adoption already,” said Aran Waid, analyst at Benchmark.",{"type":570,"attrs":607,"content":608},{"textAlign":49},[609],{"type":610,"attrs":611},"image",{"id":49,"alt":612,"src":613,"title":49,"source":49,"copyright":49,"meta_data":614},"","https://a.storyblok.com/f/287943243085208/41d3229c19/bm-chinese-batteries-europe-12928243d8ce.png",{},{"type":616,"attrs":617,"content":619},"heading",{"level":618,"textAlign":49},4,[620],{"text":621,"type":575},"China OEMs plug into Europe",{"type":570,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":575},"A number of Chinese electric vehicle makers have begun making inroads into Europe, including BYD, Nio and Xpeng. Geely, the owner of Volvo, is expected to launch its Zeekr electric vehicle in Europe next year. ",{"type":570,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":575},"It is still early days, however, and Chinese OEMs sold only about 82,000 EVs in Europe so far this year, representing about 5% of total European EV sales of 1.7 million units, according to Rho Motion. ",{"type":570,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":575},"“We do expect Chinese OEMs to continue to build on this, particularly on the back of impacted European production,” said Lola Hughes, Research Manager at Rho Motion.",{"type":570,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":575},"Still Chinese OEMs have to build brand awareness and localise the supply chain, she said. They also have to build up production sites in Europe. ",{"type":616,"attrs":643,"content":644},{"level":618,"textAlign":49},[645,647],{"text":646,"type":575},"Chinese ",{"text":648,"type":575},"Battery makers line up investments",{"type":570,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":575},"This year investments worth at least $15 billion have been announced for five Chinese-operated cell production projects in Europe.",{"type":570,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":575},"The investments come despite surging energy prices in Europe, which have been caused by the cut-off of Russian gas supplies to the continent.",{"type":570,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":575},"Tier 1 cell maker and the world’s largest battery maker CATL said this year it planned to invest $7.6 billion for a 100 gigawatt hours (GWh) battery factory in Debrecen, Hungary. Mercedes has already secured supply of cells from the plant once it starts production.",{"type":570,"attrs":665,"content":666},{"textAlign":49},[667,669,675],{"text":668,"type":575},"Tier 2 cell makers China Aviation Lithium Battery (CALB) and",{"text":670,"type":575,"marks":671}," SVOLT",[672],{"type":590,"attrs":673},{"href":674,"uuid":49,"anchor":49,"target":49,"linktype":593},"https://source.benchmarkminerals.com/article/svolt-files-2-1-billion-ipo-as-it-looks-to-fund-battery-capacity-expansions",{"text":676,"type":575}," also announced plans for a 45 GWh cell production base in Sines, Portugal and 16 GWh of capacity in Brandenburg, Germany, respectively. Envision AESC revealed plans to build an up to 50 GWh cell plant with an investment of $1.1 billion in Extremadura, Spain.",{"type":616,"attrs":678,"content":679},{"level":618,"textAlign":49},[680],{"text":681,"type":575},"China’s cathode push in Europe ",{"type":570,"attrs":683,"content":684},{"textAlign":49},[685],{"text":686,"type":575},"Chinese companies are also targeting cathode production in Europe. Beijing Easpring Material Technology and Finnish Minerals Group (FMG) are expected to lead the race, according to Benchmark. ",{"type":570,"attrs":688,"content":689},{"textAlign":49},[690],{"text":691,"type":575},"The two companies have partnered to build a cathode active material plant in Finland and plan to establish a joint venture in which Easpring will hold 70% and FMG 30%. ","Chinese companies are set to produce almost a third of Europe’s batteries by the end of the decade, as they look to benefit from the continent’s growing sales of electric vehicles. The share of Chinese involvement in cell production in Europe is set to increase from 8% by the end of this year to 22% […]",[694],{"slug":558,"name":559,"content":695},{"job_title":561,"image":696,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"b805f06a-1d02-413c-8496-b3e9a3021945\", \"id\": \"\"}-->","article",[700,703,706],{"slug":701,"name":702},"batteries","Batteries",{"slug":704,"name":705},"ev","EV",{"slug":707,"name":708},"geopolitics","Geopolitics","private",{"id":49,"alt":612,"name":612,"focus":612,"title":612,"source":612,"filename":711,"copyright":612,"fieldtype":712,"meta_data":713,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/aafd39422d/bm-nio-europe.jpg","asset",{"alt":612,"title":612,"source":612,"copyright":612},"Dec 02, 2022","2nd December 2022",[],[],1781023440793]