Global battery industry enters new phase, says IEA
The industry will reach the 1 TWh demand milestone in 2024, with China producing more than three-quarters of the batteries sold globally. The concentration of the production chain in the country has led to a fall in costs and a possible technological shift with the focus on LFP batteries. Cooperation between countries can be strategic to diversify the battery production chain and create sustained demand, assesses the International Energy Agency.
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