As electric car sales soar, Europe has started to build up its capacity to produce batteries on the continent but it remains far from reducing its dependence on Asia.
China, Japan and South Korea produce most of the world’s electric car batteries.
Europe now has projects to build 38 gigafactories with a combined annual output of 1,000 gigawatt hours and an estimated cost of 48 billion dollars, according to a June report by Transport & Environment, a non-governmental organization.
This annual supply could be reached by 2029 and would be the equivalent to the production of 16.7 million battery electric vehicles, a T&E spokesman said.
In Sweden, the startup Northvolt expects to reach annual production of 150 gigawatt hours in Europe by 2030, with one plant under construction now and two much bigger ones on the drawing board.
Northvolt has previously said that production capacity would reach 32 gigawatt hours by 2024, or enough batteries for 600,000 electric vehicles per year.