Asia is winning the war for EV batteries -- link to ZeroHedge.
- The global electric vehicle battery market has grown to $27 billion in 2021 and is expected to expand further in the coming years.
- The companies with the highest share in this new market are concentrated in China, South Korea, and Japan.
- Asian companies account for as much as 80% of global electric vehicle battery production.
At present, the ten manufacturers with the highest market share in terms of battery capacity newly registered in 2021 are all headquartered in Asian countries, mainly China, South Korea and Japan.
The industry's top five manufacturers - CATL, LG, Panasonic, BYD and Samsung - together account for over 80 percent of global automotive battery production.
Throw in Tesla and where are the following getting their batteries:
- Ford
- GM
- Stellantis
- Daimler
- all the rest?
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