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2030","chinese-owned-companies-to-produce-one-third-of-european-battery-cells-by-2030","article/chinese-owned-companies-to-produce-one-third-of-european-battery-cells-by-2030",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":644,"featured":51,"reporter":645,"_editable":649,"component":650,"seo_title":543,"categories":651,"visibility":655,"author_company":49,"featured_image":656,"seo_description":644,"author_full_name":49,"author_job_title":49,"formattedDate":660,"formattedArticleDate":661},"8aeb0849-f5ec-41b3-ac6e-de0775177677","2024-02-08 00:00",[550],{"slug":551,"name":552},"china","China",[554],{"slug":555,"name":556,"content":557},"matthew-bird","Matthew Bird",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Senior Editor - Supply Chains & Data Visualisation",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":564,"content":565},"doc",[566,573,588,593,598,607,614,619,624,629,634,639],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570],{"text":571,"type":572},"Europe’s reliance on Chinese producers to develop its domestic cell production means that one third of the continent’s total output will come from Chinese-owned companies by the end of the decade, Benchmark analysis shows.","text",{"type":567,"attrs":574,"content":575},{"textAlign":49},[576,578,586],{"text":577,"type":572},"Data from ",{"text":579,"type":572,"marks":580},"Benchmark’s Lithium ion Database",[581],{"type":582,"attrs":583},"link",{"href":584,"uuid":49,"anchor":49,"target":49,"linktype":585},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/reports/","url",{"text":587,"type":572}," forecasts that 33% of cells produced in Europe will come from Chinese-owned operations in 2030. Benchmark is tracking over 40 cell production facilities being developed in Europe, 12 of which are owned by Chinese companies, including leading producers such as CATL, CALB and SVOLT. ",{"type":567,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":572},"Chinese producers are finding Europe a more favourable environment to develop battery production than the US, according to Benchmark battery cell analyst Aran Waid, allowing them to develop a footprint in western markets.",{"type":567,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":572},"“The European market’s demand for electric vehicle batteries is driven by the need to sustain competitiveness in car manufacturing. This has led to a more favourable environment for Chinese battery makers than the US, with the view that Chinese battery makers can introduce innovative and cost-effective batteries to the region,” said Waid. ",{"type":567,"attrs":599,"content":600},{"textAlign":49},[601],{"type":602,"attrs":603},"image",{"id":49,"alt":604,"src":605,"title":49,"source":49,"copyright":49,"meta_data":606},"","https://a.storyblok.com/f/287943243085208/633fcacabf/bm-europeanbatteryproductionchart.png",{},{"type":608,"attrs":609,"content":611},"heading",{"level":610,"textAlign":49},4,[612],{"text":613,"type":572},"Can Chinese producers plug European cell shortfall? ",{"type":567,"attrs":615,"content":616},{"textAlign":49},[617],{"text":618,"type":572},"With European countries and automakers setting out bold electrification targets, the region’s battery demand is set to increase almost five times between 2023 to over 950 gigawatt hours (GWh) in 2030, according to Benchmark data.",{"type":567,"attrs":620,"content":621},{"textAlign":49},[622],{"text":623,"type":572},"“A lack of competition from strong local battery makers could also be a factor behind Chinese producers targeting the European market, particularly as their global competitors from South Korea and Japan have prioritised US expansion due to the Inflation Reduction Act incentives,” Waid added.",{"type":567,"attrs":625,"content":626},{"textAlign":49},[627],{"text":628,"type":572},"Benchmark data shows that even with Chinese-owned battery cell producers drawn to set up production on the continent, Europe will only produce just over 500 GWh of cells in 2030, forcing European countries to rely on cells imported from other regions.",{"type":567,"attrs":630,"content":631},{"textAlign":49},[632],{"text":633,"type":572},"Concerns, however, continue to grow within Europe about the role Chinese battery producers are playing.",{"type":567,"attrs":635,"content":636},{"textAlign":49},[637],{"text":638,"type":572},"“Chinese cell makers enjoy the advantages of state-backed credit and equity financing, which is more cost-effective than any available on the financial markets,” Waid said.",{"type":567,"attrs":640,"content":641},{"textAlign":49},[642],{"text":643,"type":572},"He added that “the European Commission has initiated an investigation into Chinese automakers to determine whether tariffs should be imposed, should they be found to be unfairly benefiting from state subsidies. The outcome is uncertain, and there is a possibility of additional restrictions on Chinese battery investment.”","Europe’s reliance on Chinese producers to develop its domestic cell production means that one third of the continent’s total output will come from Chinese-owned companies by the end of the decade, Benchmark analysis shows. Data from Benchmark’s Lithium ion Database forecasts that 33% of cells produced in Europe will come from Chinese-owned operations in 2030. 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