What's going on with Europe's nascent battery industry?

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Europe’s nascent battery industry is reeling from the global slowdown in electric car sales, forcing companies to cancel or postpone projects that would have powered more than 2mn EVs for a year.

Is a shake-out happening in the battery industry in Europe?

“The battery industry in Europe was one of big dreams, big money and a big rush, but now the shake-out is happening,” said one leading investor in carmakers and EV supply chain groups. “All the companies that are not backed by big conglomerates or are not Chinese will die.”

How will Brexit affect EV batteries?

Domestic battery plants will also be required to meet “rules of origin” provisions in the UK’s Brexit deal with the EU, which requires that 70 per cent of an EV’s battery must be built in the UK or EU in order for the vehicle to be sold tariff-free in the bloc.

Are battery start-ups in Europe being hit by major setbacks?

Battery start-ups in Europe have been hit by a series of major setbacks in recent months. Northvolt, the region’s poster child for domestic battery production, launched a strategic review last week, under which new factories in Germany, Canada and Sweden could be delayed.

Will Power Battery companies restructure in China?

An insider from a power battery company told “Daily Economic News” that based on current trends, the market share of the top five power battery companies in China will be over 90% in the future, leaving many small and medium-sized power battery companies destined for restructuring.

Are batteries a success or a failure?

In the tangle of policies making up the EU’s industrial strategy, batteries actually stand out as a relative success. The European Commission includes them in “important projects of common European interest”, making it easier to kick-start manufacturing with public subsidies.