Business
Can Tesla and the world produce enough batteries to meet EV ‘frenzy’? – The Driven
New global battery production capacity must increase tenfold to $US560 billion by 2030 to meet demand for EVs. Tesla must increase spending 60-fold.
A global electric vehicle “frenzy” is coming, and lithium ion battery production capacity needs to increase tenfold over the next decade to meet the emerging demand, a new report by Rystad Energy finds.
Rystad estimates an additional $US560 billion of investment in battery production will be needed by 2030 and it says nearly half of that will go into Tesla’s huge expansion plans.
Chinese battery giant Contemporary Amperex Technology Limited (CATL), already the biggest spender on battery production…
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