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domestic battery manufacturingTelegraph
•75% Informative
Hundreds of billions of dollars , euros and renminbi are being invested in battery gigafactories.
Huge investments in factories as well as ultra-low raw material costs, combined with stalling demand for electric cars, have pushed the world into oversupply.
The glut has been a boost for motorists, who are seeing the price of electric vehicles (EVs) fall dramatically, but now risk thwarting investments in new factories needed for the next decade .
In the UK , electric car sales have barely risen, from 16.1pc last year to 16.6pc , but below a government mandate of 22pc .
Tesla, the world’s biggest electric car maker by volume, has recorded declines in last two quarters .
Western manufacturers have been slow to adopt Chinese batteries, which tend to use an alternative chemistry.
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