Another interesting point is that China currently has a glut of inferior batteries, there is no glut and in fact there is a likely shortage of batteries that meet export quality requirements. These inferior batteries may only be useful for the domestic market so as the Chinese domestic market has slowed down China battery manufacturers find themselves stuck with these EV's with batteries of very inferior quality. To meet the export market they will need to start producing better quality batteries, which means more and better quality raw products such as Lithium, Copper etc.
Lithium-ion batteries are the workhorses of the global EV industry, accounting for up to 99% of the batteries installed in EVs as well as hybrids. These batteries currently come in two main configurations, depending on which cathode materials are used: NMC batteries use lithium, manganese, and cobalt oxide, while LFP batteries use lithium, iron, and phosphates. The efficiency of a battery is expressed in energy density and measured in watt-hours per kilogram (Wh/kg); conventional lithium-ion batteries currently have an energy density of under 300 Wh/kg. Yet as of May 2023, the vast majority of the batteries in China — around 75% — have an energy density well below this threshold, less than 160 Wh/kg, as per CAEV data. More powerful batteries whose energy density is above 160 Wh/kg account for only 18.1% of all batteries in China, and this proportion has dropped significantly from 31.6% in May 2022.With the rush to make EV batteries to meet hoped-for EV growth, the quality of China’s battery supply has been diluted.
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