Global lithium-ion battery capacity may rise over five-fold to 5,500 gigawatt-hour by 2030 from 2021, consultancy Wood Mackenzie said on Tuesday, while cautioning that supply of batteries will remain tight this year.
U.S. carmakers Ford Motor Co and General Motors Co recently announced their EV expansion plans, with Ford set to launch seven electric models in Europe by 2024 and deepen its partnership with Volkswagen to produce a second EV for the European market. Battery makers are responding to this rising demand with massive expansion plans, Wood Mackenzie said.
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