Chinese Companies Invest 80 Billion Euros to Expand the Production of Batteries Abroad
6 Articles
6 Articles
Chinese manufacturer Gotion announced in September an investment of more than EUR 1 billion in a partnership with German Volkswagen to produce batteries in Spain, Slovakia and Morocco
According to the British newspaper Financial Times (FT), companies such as CATL, BYD, Gotion, Sungrow and CALB - which is developing a project of about two billion euros to build a battery factory in Sines - are accelerating the creation of production chains outside China, given the strengthening of trade protection measures and local production requirements in Western markets.
The Chinese companies are building a global supply chain for batteries outside their internal market, in the context of the West's attempt to protect itself from the avalanche of materials, components and cells from finished batteries manufactured in China, according to a Financial Times analysis. In the last decade, world giants in the battery industry — including CATL, BYD, [...] Article China is building a new industrial advantage in Europe: …
CATL and other companies in the sector are creating new global supply chains in the face of increased protectionist pressures. Read
The move highlights how Chinese automakers are circumventing tariffs to quickly expand into overseas markets.
Chinese companies invest 80 billion euros abroad to expand battery production, in response to protectionism and the need for location.
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