Europe’s nascent battery industry is reeling from the global slowdown in electric car sales, forcing companies to cancel or postpone projects that would have powered more than 2mn EVs for a year.
Slow consumer uptake and competition from Chinese cell manufacturers have led to a pullback in investment plans for about 158 gigawatt hours of forecast production in the region since the start of the year, according to lithium battery consultancy SC Insights.
“[The car manufacturers in Europe] are not putting in the orders for the batteries,” said Andy Leyland, managing director of SC Insights. A lack of long-term planning by European governments and carmakers will mean “the Chinese take big chunks of the [battery] industry”, he added.
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