Along with fast growing demand for electric vehicles (EVs) and energy storage systems, global supply of EV batteries will become tight in the coming year and fall short of demand by at least 40% in 2025, industry sources have cited China-based battery makers as indicating.
Technological progress in EV battery development has bene unable to catch up with fast growing demand for such batteries, the sources said.
Japan- and South Korea-based battery makers have developed new technologies and expanded production capacities, while automakers Wolkswagen, General Motors and Hyundai Motor have been developing new-generation batteries and plan to set up their own battery supply chains, the sources noted.
Taiwan Cement acquired a 60.48% stake in Engie EPS, an Italy-based energy storage solution developer in April 2021, the sources indicated. Taiwan Cement, via its subsidiary TCC Recycle Energy Technology, invested in a rechargeable lithium battery cell factory with annual production capacity of 1.8GW to be established in southern Taiwan by E-One Moli Energy, of which TCC Recycle is the parent company, the sources said.
Foxconn Electronics has invested in Long Time Technology, a maker of anode materials of LFP (lithium iron phosphate) battery cells, the sources noted.
Article translated by Adam Hwang
