Chinese companies invest 80 billion since 2023 to expand battery production abroad

Chinese battery manufacturers have announced nearly $90 billion in foreign investments since 2023, primarily targeting Europe and Southeast Asia. Companies like CATL and BYD are expanding production to navigate protectionist barriers and strengthen global supply chains. Investments in Europe alone amount to $31.5 billion, with significant projects in Spain and Slovakia. Despite lower costs in China, manufacturers are adapting to local production demands in Western markets. The EU aims for a fully localized battery supply chain by the decade's end, though challenges remain in technology and competitiveness. Chinese firms dominate over 80% of global battery component production, with expectations of maintaining market shares until 2034.