TOKYO — Chinese companies accounted for over 80% of global shipments of key lithium-ion battery components in 2023, expanding their footprint further up battery supply chains on strong electric vehicle sales in the country.
Lithium-ion batteries are composed of four main parts: cathodes, anodes, electrolytes and separators. Chinese businesses held an 89.4% market share by volume for cathodes, 93.5% for anodes, 87.4% for separators and 85% for electrolytes, Tokyo-based Yano Research Institute reports.
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