Why China is winning battery arms race? Why china is leading the way in EV market.
China is world's second largest economy. It is also world's largest EV market. The biggest EV battery Company CATL is also from china.
China
China controls 60% of the world’s lithium mining, 77% of battery cell capacity, and 60% of battery component manufacturing
China has a better hold over the Lithium resources in South America, Australia, and other world’s biggest reserves.
Eight out of 14 largest cobalt mines in the DRC are by Chinese owners. These Eight mines contribute about half of the country’s output.
U.S. government research states that China produced more than 60% of the world’s graphite, in 2019. This is in turn indicates, china can set the prices for the world.
The China have increased their investment in nickel processing and extraction, in Indonesia. Indonesia has the world’s largest nickel reserves.
At current stage lots of chinese companies hold ownership over the world's largest reserves. And thus China is global leader in the market of the EV batteries.