BYD jumps to No. 2 in global electric car battery market. ev markets china
BYD Co. jumped to second place in global electric-car battery rankings in July, overtaking LG Energy Solution Ltd. as China’s demand for clean cars surges.
Demand for EVs continues to soar as high gasoline prices spur drivers to switch to hybrids and battery-powered cars, and automakers electrify their fleets. Still, EV makers face challenges, with the UK and Germany slashing subsidies, the US pushing to reduce reliance on Chinese minerals and components and surging materials prices pushing up the cost of batteries.
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