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business4h ago
Chinese EV Batteries Are Eating the World
- Chinese battery giants are expanding overseas, with at least 68 new factories announced or built outside China.
- Overseas factory investments total more than $45 billion as part of a broader shift in manufacturing power.
- China’s battery leaders now supply global EVs and grids, expanding beyond domestic positions.
- China’s overseas investments mark the first year such firms spent more abroad than at home.
- Top Chinese players like CATL and BYD lead global plant deployments amid favorable incentives and logistics.
- The global spread includes high-profile political attention and collaborations, from Brazil to Illinois.
- However, overseas plants face local pushback over hiring, environmental impact, and water use.
- Analysts say Chinese battery research and early investment helped sustain technological leadership.
- The shift reflects a broader redefinition of manufacturing dominance worldwide.
- Industry groups warn about potential misalignment of benefits between host countries and producers.
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