Report: China now makes enough batteries for global EV production | KLRT [Video]

China already has enough battery manufacturing capacity to supply all global EV production, according to Bloomberg New Energy Finance.

BNEF estimates to global battery-cell demand for both EVs and energy storage came in at around 950 gigawatt-hours in 2023—but manufacturing capacity was more than twice that, at around 2,600 gigawatt-hours.

China’s declared 2023 battery production alone was close to the actual global demand, according to BNEF, which notes that the U.S., Canada, Europe, and India are now incentivizing local battery production to compete with China—making the gap between supply and demand even greater.

Announced battery manufacturing capacity and demand in 2025 (via Bloomberg)

BNEF reported 7,900 gigawatt-hours of annual battery manufacturing capacity announced by the end of 2025, but demand projections of just 1,600 gigawatt-hours. And that assumes continued, steady global EV sales growth, as well as growth in energy-storage use. Even half that total announced manufacturing capacity would be enough to equip every …