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Volkswagen:Competition From China EVs: Difference between revisions
Volkswagen:Competition From China EVs (view source)
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, 2 September 2024→Breakthroughs in the development of batteries
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* Chinese battery markers also benefit from the fact that the country is home to some of the most important battery materials such as cobalt, nickel sulfate, graphite and lithium hydroxide<ref>https://www.technologyreview.com/2023/02/21/1068880/how-did-china-dominate-electric-cars-policy/</ref>. For instance, half of the global capacity for the processing of cobalt, manganese and lithium is controlled by China<ref>https://www.gisreportsonline.com/r/ev/</ref>. | * Chinese battery markers also benefit from the fact that the country is home to some of the most important battery materials such as cobalt, nickel sulfate, graphite and lithium hydroxide<ref>https://www.technologyreview.com/2023/02/21/1068880/how-did-china-dominate-electric-cars-policy/</ref>. For instance, half of the global capacity for the processing of cobalt, manganese and lithium is controlled by China<ref>https://www.gisreportsonline.com/r/ev/</ref>. | ||
* According to CSIS, Chinese battery makers also receive subsidies from the government. For instance, in 2023 CATL received $809 million while EVE Energy received $209 million in state subsidy<ref name=":0" />. | * According to CSIS, Chinese battery makers also receive subsidies from the government. For instance, in 2023 CATL received $809 million while EVE Energy received $209 million in state subsidy<ref name=":0" />. | ||
* According to BBVA Research, battery sales by Chinese automakers accounted for 60% of worldwide sales in 2022. According to Bloomberg, LFP batteries were 32% cheaper than NMC batteries in 2023<ref>https://about.bnef.com/blog/lithium-ion-battery-pack-prices-hit-record-low-of-139-kwh/</ref>. | * According to BBVA Research, battery sales by Chinese automakers accounted for 60% of worldwide sales in 2022. According to Bloomberg, LFP batteries were 32% cheaper than NMC batteries in 2023<ref>https://about.bnef.com/blog/lithium-ion-battery-pack-prices-hit-record-low-of-139-kwh/</ref>. Similarly, according to International Energy Agency (IEA), LFP batteries are more than 20% cheaper to produce compared to NMC batteries to produce<ref>https://www.iea.org/reports/global-ev-outlook-2024/trends-in-electric-vehicle-batteries</ref>. | ||
[[File:BBVA Research.png|left|thumb|888x888px|Source: BBVA Research]] | [[File:BBVA Research.png|left|thumb|888x888px|Source: BBVA Research]] | ||