TOKYO -- Chinese companies accounted for over 80% of global shipments of key lithium-ion battery components in 2023, expanding their footprint further up battery supply chains on strong electric vehicle sales in the country.
Electric cars in China
China's market share in key EV battery components tops 80%
Strong vehicle demand at home lifts players across supply chain
Over 30% of new vehicles sold in China during 2023 were electric or plug-in hybrids. (Photo by Tomoko Wakasugi)
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