This is a China news story, published by South China Morning Post, that relates primarily to Volkswagen news.
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cheaper Chinese batteriesSouth China Morning Post
•71% Informative
Companies including Volkswagen and Mercedes-Benz are scaling back or refocusing battery projects.
China already has excess battery-making capacity, can make cells at a fraction of the cost it takes in Europe .
European Union subsidies are hard to access due to bureaucracy and carmakers protect thin EV profit margins.
European suppliers have a role to play for resilience, even as they struggle.
The world already has more than twice as much lithium-ion battery capacity as needed, according to BloombergNEF .
Manufacturing capacity in China was already three times domestic demand last year and will rise to more than six times in 2025 .
Europe is better off focusing on complex solutions to help cars access renewable energy.
VR Score
79
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82
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English
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