Battery boom time

Inside a CATL battery plant

Source: © Imaginechina Limited/Alamy Stock Photo

The fast-evolving market for vehicle batteries is driving commoditisation and consolidation, but also innovation

Batteries are being described as the new oil, so perhaps it’s no surprise that in recent years there have been more innovations in batteries than in almost any other technology.

Aside from R&D, billions are being invested in expanding production across the globe and in partnerships all along the supply chain, from raw materials to battery cells.