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China Dominates Global Power Battery Market with 60%+ Share
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China Dominates Global Power Battery Market with 60%+ Share
China now supplies over 60% of the world’s power batteries and around 70% of its battery materials, based on official figures. This dominance provides a significant advantage for the country’s rapidly expanding new energy vehicle market. Last year, China’s power battery output skyrocketed more than tenfold, reaching over 1,000 gigawatt-hours compared to 83.4 GWh in 2020, according to Yao Zhenzhi, deputy director of the Equipment Industry Develop…
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