TOKYO — Chinese companies will account for more than 80% of global supplies of key lithium-ion battery components by 2023, further expanding battery supply chains on the back of strong electric vehicle sales in the country.
Lithium-ion batteries consist of four main parts: cathodes, anodes, electrolytes and separators. According to the Tokyo-based Yano Research Institute, Chinese enterprises had a market share of 89.4% for cathodes, 93.5% for anodes, 87.4% for separators and 85% for electrolytes.