Admin Posted June 2, 2023 Share Posted June 2, 2023 North America has emerged as the fastest-growing market for new battery cell manufacturing factories, driven by incentives provided by the Biden administration's Inflation Reduction Act (IRA), according to a report by Clean Energy Associates. Electrek reports: CEA says that China is still the leading battery cell manufacturing hub, but its share will decline in "coming years." Europe has seen delays and cancellations of several planned battery factories, mostly due to high energy prices and other countries' pro-clean energy and EV manufacturing policies luring projects away. Global EV battery usage increased by 72% in just a year, from 2021 to 2022. And going forward, CEA forecasts an impressive two-year 186% growth rate on the 1,706 GWh of batteries produced in 2022. The reason is obvious for the rapid increase in battery factories: The International Energy Agency's "Global EV Outlook 2023" reports that EV sales exceeded 10 million in 2022, and 14% of all new cars sold were electric in 2022 -- up from around 9% in 2021 and less than 5% in 2020. And battery and EV manufacturing are only going to continue to experience huge growth. Read more of this story at Slashdot. View the full article Quote Link to comment Share on other sites More sharing options...
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