Chinese Power Battery Companies are Setting up Factories Overseas One After Another 

As new energy vehicles accelerate their overseas expansion,upstream and downstream companies in the power battery industry chain are also building factories overseas.In addition to building their own overseas factories,some companies also choose to build joint ventures with third parties.

"Going overseas"has become the keyword of China's new energy vehicle industry chain,including the power lithium battery industry.Not only are products going overseas,but overseas factory building is also continuing to heat up.Especially since this year,power battery companies have accelerated the pace of building overseas factories.According to incomplete statistics,as of now,the cumulative production capacity of overseas factories that have been built,under construction,and planned by Chinese power battery companies has exceeded 360GWh.

Overseas factory construction continues to heat up

Currently,many power battery companies in my country are embarking on a new round of overseas production expansion.In particular,CATL and BYD,which have long been leaders in market share,have recently set their sights on Europe.Hungary has become a bridgehead for power battery companies to enter Europe.In recent months,Chinese battery manufacturer EVE has also decided to increase its investment in Hungary.The project is also located in Debrecen,one of the main centers of the Hungarian automotive industry.

It is expected that by the end of 2031,Hungary's power battery production will reach 207GWh,becoming the largest lithium battery producer in Europe.Among them,more than 175GWh of planned production capacity will come from market leaders,mainly Chinese companies.In recent years,Hungary has become a center for automotive parts production.Favorable labor costs and government incentives,as well as policies that actively seek investment,will encourage Asian battery manufacturers and related supply chain companies to set up European operations in the country.

At the same time,many battery material companies in the upper reaches of the industry chain have also started building factories overseas.On September 27,2023,Ningbo Shanshan Co.,Ltd.announced that it plans to invest no more than 1.28 billion euros to build an integrated base project for lithium-ion battery anode materials with an annual output of 100,000 tons in Finland.

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