Energy storage batteries exported to Europe and the United States

How much EV battery does Europe import in 2023?

In 2023, Europe imported batteries worth $35 billion, and exported a quarter of that amount (Figure 6). Exports primarily go to North American facilities that largely serve the US EV market, while Europe imports cheap batteries from China to fill the domestic demand gap (Figures 7 and 8).

Why is battery manufacturing a growing trend in Europe?

The domestic build-out of battery manufacturing capacity accompanies another trend: growing foreign investment in US and European plants. The overwhelming majority of operational European battery-cell manufacturing capacity comes from companies with headquarters abroad.

Are battery exports increasing or decreasing in China?

Chinese trade data shows that battery exports by weight have increased year-over-year, while their export value has declined. In 2024, the United States imported 923,000 tons, slightly less than the EU’s 938,000 tons. However, comparing volumes has limitations since batteries vary widely in function and are not interchangeable commodities.

How much do lithium ion batteries exports cost?

The overall value of lithium ion batteries exports increased by an average 31.7% for all exporting countries from five years earlier in 2020 when lithium ion batteries shipments were valued at $2.71 billion. Year over year, revenues from exported lithium ion batteries accelerated by 52.4% compared to $3.5 billion during 2023.

Where is battery manufacturing now?

As the transition from combustion-engine to electric vehicles has progressed, along with the growing importance of stationary grid-connected batteries, investment in battery manufacturing has grown. While much of this investment has so far been in China, investment is significant and growing in Europe and the US.

Are battery energy storage systems cheaper than EVs?

Significantly, per-kilogram battery costs are lower for battery energy storage systems than batteries for EVs. US BESS per-kilogram costs averaged $19.7 through the first eleven months of the year, while batteries for EVs averaged $28.8, according to US trade data.