The Year Ahead
U.S. Is Losing the Battery Race Despite Having the Right Stuff
Raw materials? Yes. Demand? Yes. So what’s the problem?
This article is for subscribers only.
The U.S. isn’t just losing the battery race—it’s barely in the running. But it doesn’t have to be that way.
China dominates lithium-ion battery production and is building factories at breakneck speed. Europe, too, is adding battery plants as its power grid and car companies shift away from fossil fuels. Although a few factories are planned in the U.S., including Tesla Inc.’s Texas plant, BloombergNEF currently expects the country’s share of worldwide battery production to fall from 8% today to 6% in 2025.