Chinese companies invest 80 million euros to expand battery production abroad

Chinese battery manufacturers are investing nearly $90 billion abroad to expand production and navigate protectionist barriers. Companies like CATL and BYD are establishing production chains outside China, particularly in Europe and Southeast Asia. In 2023 alone, $12 billion was announced for 14 foreign projects. The European market has attracted $31.5 billion in investments, with CATL seeking new factory locations in Europe. Despite lower costs in China, the trend towards localization is seen as lasting. The expansion is also subject to Chinese government approval and faces scrutiny from Western governments over security concerns. Chinese firms dominate over 80% of global battery component production, with expectations of maintaining market shares until 2034.