Europe's dependence on Korean batteries - 75% of production capacity is carried out by Asian firms
Europe relies heavily on Korean companies to produce electric vehicle batteries. According to data, about 75% of production capacity on the old continent is controlled by firms from the Asian nation.
Europe relies heavily on factories run by Korean companies to produce electric vehicle batteries. About 75 percent of existing battery production capacity in Europe belongs to Korean firms, with half of that capacity owned by LG, according to the International Energy Agency.
Since 2016, Korean giants have begun building large battery factories in Central and Eastern Europe, mainly in Poland, Hungary and Germany, to support the growth of the European electric vehicle market.
Poland has become the world's second-largest producer of lithium-ion batteries, producing 60 percent of all such batteries in Europe by 2022, according to recent reports. This makes Warsaw an important hub for the European battery industry.
Despite local production of electric cars and their components, the European market is dependent on Korean manufacturers for basic materials and battery technology. This situation has raised concerns, especially at a time when international tensions and controls in other markets, such as the United States, are affecting their production and distribution.
Mercedes-Benz, one of the leading German automakers, has entered into long-term contracts with LG Energy Solution for the supply of batteries, with the aim of producing 32 gigawatt-hours (GWh) of batteries by 2035 and an additional 75 GWh by 2037.
As Europe strives to expand domestic battery production and technology, challenges remain, including critical materials needed and significant investment to sustain production.
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