Global electric vehicle (EV) battery supply is set to exceed demand by more than threefold as EV sales cool worldwide, according to new analysis by Nikkei, creating significant headwinds for domestic production strategies. Citing data from S&P Global Mobility, the outlet notes that annual production capacity will reach 3,930 GWh while demand totals just 1,161 GWh, driving prices downwards and potentially affecting profitability.
Subscribe to Automotive World to continue reading
Sign up now and gain unlimited access to our news, analysis, data, and research
Already a member?
