Who is the world's largest producer of lithium-ion batteries for electric vehicles?

That includes the rise of Chinese battery behemoth Contemporary Amperex Technology Co. Ltd. into the world's largest producer of lithium-ion batteries for electric vehicles, according to SNE Research.

Where are used electric cars exported?

The remainder of used EVs are exported to countries such as Mexico, Tunisia and the United States. As of 2023, the largest exporters are Belgium, Germany, the Netherlands, and Spain. Last year, just over 1% of all used cars leaving Japan were electric.

How does China support EV manufacturing?

China relies on massive incentives to support domestic EV manufacturing, retail-level subsidies to create demand for domestic products, and a battery certification program to limit market access for foreign products.

Can China Export used electric cars?

Used electric car exports from large EV markets have been growing in recent years. For China, this can be explained by the recent roll-back of a policy forbidding exports of used vehicles of any kind. Since 2019, as part of a pilot project, the government has granted 27 cities and provinces the right to export second-hand cars.

Which country imports the most lithium-ion batteries?

China accounted for 80% of U.S. lithium-ion battery imports in the period, up from less than 50% in the fourth quarter of 2020, as the country nearly quadrupled its shipments to the United States. South Korea accounted for nearly 9% of U.S. lithium-ion battery imports in 2021's fourth quarter, while Japan made up 3.1%.

How will the EV transition affect the global market?

Nevertheless, China, Europe and the United States also represent around two-thirds of total car sales and stocks, meaning that the EV transition in these markets has major repercussions in terms of global trends. In China, the number of new electric car registrations reached 8.1 million in 2023, increasing by 35% relative to 2022.