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Author name: Smart

Europe Bets on Fuel Cells to Challenge Battery Dominance
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🔒 Europe Bets on Fuel Cell to Challenge Battery Dominance

The mobility battery sector is currently dominated by Asian companies, particularly from South Korea, China, and Japan, thanks to their technological prowess and robust supply chains. Recent data shows CATL from China holding a 37.9% market share in 2024, with BYD at 17.2%, highlighting their lead (Global EV battery market share: CATL leads with 37.9%). Meanwhile, Europe faces challenges, as seen with Northvolt’s bankruptcy filing in Sweden on March 12, 2025, attributed to high labor costs and difficulty competing with Asian manufacturers.

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