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2 September 2022 by Jeremy Wright
Japanese Car makers are catching up with Chinese and US brands, with recent announcements regarding their EV intentions.
With new factories from Honda and Toyota, EV battery production is forecast to grow by 430% from 95.3 gigawatt hours (GWh) in 2020 to 410.5 GWh in 2024, according to GlobalData.
Ford’s 3 new battery plants will enable 129 GWh a year of
production capacity. General Motors’ four new battery factories have annual
capacity of 140 GWh, while VW is aiming at six battery plants operating in Europe
by 2030 for a total of 240 GWh a year.