The decline in electric vehicle demand has significantly impacted the battery market, particularly in Germany, where sales dropped by 16%. China's dominance in this sector is increasingly evident, with an import volume of €8.9 billion, overshadowing European contributions.
This shift prompts calls for renewed incentives for electric car purchases to invigorate the struggling market. Meanwhile, Chinese manufacturers like BYD are pivoting towards hybrid plug-in vehicles to circumvent European tariffs, enhancing their competitiveness.
In the U.S., the battery manufacturing boom faces challenges due to restrictive trade policies, slowing investment in new factories. Despite these hurdles, the global lithium-ion battery market is projected to grow robustly, reaching US$ 483.4 billion by 2032, driven by government incentives and technological advancements.
Additionally, while the bicycle industry is experiencing a downturn, e-bikes remain a stronghold in Germany, accounting for nearly half of the European market, despite a slight decline in sales and revenue.
