In the Middle Ages, the city of Erfurt in central Germany was a key stop on a trading route linking the far-flung ends of Europe. It’s about to take on a crucial new role as home to one of the world’s largest battery makers.
China-based Contemporary Amperex Technology Co. Ltd., the top global supplier of lithium-ion batteries for cars, storage systems, and power grids, will begin production at a factory at Arnstadt, near Erfurt, later in 2021. It’s the first foreign plant for billionaire Zeng Yuqun’s decade-old business.
CATL’s plant represents a key point in the auto industry’s shift to electric. Spurred by growing demand, Asia’s dominant battery producers are expanding directly into Europe and the U.S.
Electric vehicle sales in Europe in 2020 exceeded those in China for the first time, according to BloombergNEF forecasts, and Europe’s share of global battery manufacturing will rise to 17% by 2025, up from 6% in 2020. In the U.S., Joe Biden’s presidency has raised expectations for faster EV adoption: BNEF forecasts a 30% increase in sales in the first half of 2021, compared with the same period in 2019.
Bu hikaye Bloomberg Businessweek dergisinin January 25, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Bloomberg Businessweek dergisinin January 25, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Instagram's Founders Say It's Time for a New Social App
The rise of AI and the fall of Twitter could create opportunities for upstarts
Running in Circles
A subscription running shoe program aims to fight footwear waste
What I Learned Working at a Hawaiien Mega-Resort
Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.
How Noma Will Blossom In Kyoto
The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking
The Last-Mover Problem
A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps
Tick Tock, TikTok
The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban
Cleaner Clothing Dye, Made From Bacteria
A UK company produces colors with less water than conventional methods and no toxic chemicals
Pumping Heat in Hamburg
The German port city plans to store hot water underground and bring it up to heat homes in the winter
Sustainability: Calamari's Climate Edge
Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment
New Money, New Problems
In Naples, an influx of wealthy is displacing out-of-towners lower-income workers