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Industry sources estimate that EV battery supply will lag 40% behind demand in 2025

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The rapidly growing demand for electric vehicles and energy storage systems could lead to the fact that in the coming year the global supply of batteries for electric vehicles will lag behind demand, and by 2025 the gap will reach 40%. Such concerns are expressed by industry sources, citing data from Chinese battery manufacturers.

Technological advances in the development of batteries for electric vehicles have not kept pace with the rapidly growing demand for them, they said.

The source recalls that battery manufacturers from Japan and South Korea have developed new technologies and expanded production capacity, while automakers Wolkswagen, General Motors and Hyundai Motor are developing next-generation batteries and are planning to create their own battery supply chains. Recently it was revealed that SK Innovation will invest $ 26 billion in battery production for electric vehicles, in order to increase it fivefold over the next five years.

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