These are the countries investing the most into battery metals

In 2020, Fitch Solutions analysts recorded 37 manufacturing projects for EV batteries and related components and materials valued at $ 21.04 billion, for the projects disclosing financial details. The projects range from the production of battery cells and packs themselves to anode materials and battery trays and give an idea of ​​which regions are most active in developing a localized supply chain and which countries within those regions are the greatest beneficiaries. Western Europe had both the largest number of projects at 17 and the largest total value at $ 9.1 billion. The region thus had a share of 43.5% of the total global investment in battery production projects, reports Fitch. At the national level, Germany led the region with 10 of the 17 projects recorded. The largest project in Germany is SVOLT's $ 2 billion battery cell plant with a capacity of 24 GWh per year. These activities in Germany reflect the efforts of the country's large automobile manufacturers to invest heavily in the production of electric vehicles in their domestic plants. Volkswagen, Daimler and BMW are all represented with their own projects for the production of battery packs, which shows the more active role that automakers are playing in the supply chain, according to Fitch. In the emerging countries of Europe, the projects are dominated by Hungary and Poland and are mostly located in the battery components segment and supply existing systems in these countries. This speaks for the strength of these two countries as automobile production locations in general, according to Fitch, as well as for their ability to move up the value chain with high-tech products. The South Korean company SK Innovation, for example, is planning to build its third plant in Hungary, which has become the company's European base. While much of the investment in all regions is driven by a desire to reduce reliance on a handful of markets, most notably China, for the supply of batteries and related components, the projects in Asia show that China is still a destination for investment is because it is the world's largest single market for electric vehicles. Fitch reports that three of the eight projects pursued in Asia, valued at $ 2.6 billion in total, are in China, with the largest being a joint venture between Geely and CATL for a new battery factory valued at $ 1.2 billion. US dollar is. CATL was also behind the largest investment in the Asia region totaling $ 5 billion for a new battery plant in Indonesia. The company has also agreed that 60% of the nickel used in the production of batteries at the factory will be sourced locally, underscoring the analyst's view that Indonesia has the potential to be a major player in the development of a Southeast Asian battery supply chain to become.