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Logan Goldie Scott, head of energy storage business at Bloomberg New Energy Finance (bNEF), said, "Europe will receive significant financial and technical support and is gradually developing

In addition, the rise in battery manufacturing in Europe is more reliable than the rise in the United States, as the use of batteries in the United States is highly dependent on a single company, such as electric vehicle manufacturer Tesla.

However, neither of these countries or regions will reach a level that can compete with China's battery manufacturing capabilities.

Leading Asian Manufacturers Entering the European Market

According to a survey statement by Bloomberg New Energy Finance (bNEF), it is expected that by 2023, China's annual battery processing capacity will reach 800GWh, exceeding two-thirds of the global processing capacity of 1.2TWh.

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