The global electric battery market has expanded dramatically over the last year, as the push to shift from traditionally fuelled cars to electric alternatives has never been stronger. So, how will emerging battery markets overcome supply chain challenges to ensure that the future of electric battery development is secure?

McKinsey estimates that the global battery market will grow by over 20 percent per year until 2030 to reach at least $360 billion, with upper-end estimates increasing to $410 billion.

Can Anyone Compete With China’s Battery Dominance? | Devamı>>>

Pooling its expertise in mechanical engineering, Bosch offers companies factory equipment for battery production from a single source, ranging from individual component and software solutions to complete assembly lines. “We know like the back of our hand about batteries and how batteries should be manufactured,” said Rolf Najork, Bosch’s board member responsible for industrial technology.

When entering this business, Bosch aims to increase vertical integration in mechanical engineering and achieve annual sales of approximately 250 million euros with battery manufacturing equipment by 2025.

Factory Equipment Supply for Battery Production From Bosch | Devamı>>>

LG Chem is prepared to invest $4.5 billion over the next 5 years to expand battery capacity in the United States. In a Thursday email, according to Bloomberg Green, LG Chem said it would not only sink $4.5 billion into battery capacity expansion, but it would hire 10,000 workers.

The company hatched the plan over the last year in response to what it says as the growing demand for electric vehicles and President Biden’s ambitious green policies.

Battery Giant LG Chem to Invest $4.5 Billion in U.S. Expansion | Devamı>>>